[Update: thanks. -Bob]Agreed, all. Billy, I'm interested in your empirical observations of how trend day up[s] setup ahead of the open. Any particular characteristics of the markets you look for other than what you wrote here?
Bob,
Trend days are facilitated by very weak cluster resistances and even more if this characteristic is present the same day on all indices. This will be the case for IWM with a close above QS1 (79.32) and is already certain for SPY with a close above MS2 (128.69) and for QQQ with a close above MS2 (55.19).
I think the charts speak by themselves, just project what tomorrow clusters can be. All support clusters will be strong and all resistance clusters will be weak on all indices. Again, bad overnight news could negate the setup, otherwise the odds are for a trend day up. My definition of a trend day is a move from open to close with a range higher than the 20-day ATR.
Billy
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