Middle Picture
- Normally after going up, we go sideways to consolidate/balance
- These time after going up, we do not balance sideways. We continue to go up but in a slowly grinding way
- Ranges are small
- I think to get better ranges and a better trading market we need a good liquidation to balance inventory
- Keep your expectations low until we see such a change
Intraday
- The last two days we saw the same day-structure. One to the downside. One to the upside
- Its a normal variation day where we see a directional move early followed by nothing but chop and a small correction of actual days inventory
- Do not expect any continuation or second directional move in that actual middle picture !!!