A red day yesterday ...negative sentiment in Europe..

5/20 60' started to cross negative in de pre-market yesterday and is still negative. The 20 ma's daily showed us a little support.

The smaller frames are now moving between the declining 5 ma daily and the flat 5 ma monthly.

Looking for longs today because of extention.

NQ almost reached the highs of Oktober....

The smaller frames are moving above the rising 5 ma daily. 200 ma es is crossed and is support now. The bulls are in favor but watch out for extention. Waiting for a pullback is safer.

A lot of divergence again between es, ym and nq....

Yesterday the 3 indexes had a different setup.

Nq lost for a few hours the 20 ma daily but ym had support because of the 200 ma daily and es because of the rising 20 ma daily. At the end the market came down because the 200 ma daily es was resistance.

That means, intraday we have to be open minded and to be prepared for different situations everyday.

Again, training is the key to succes.

5/20 daily NQ seems vulnerable...

The markets are still moving above the 5 ma daily. And 5/20 daily YM crossed the 5 ma monthly in a positive way. So, longs get the benefit of the doubt.

The bulls came in because of the 20 ma daily...

The smaller frames lost of the bigger because the rising 20 ma daily was support. The markets are moving above their 5 ma daily but es has resistance because of the 200 ma daily.

20 ma ym and es to hold or not....

Nq lost the 20 ma daily but there are still a few other supportareas. Ym and es still have support on the 20 ma daily. Looking for longs on nq today if we gets lower.

The pullbacks were stronger than expected...20 ma daily in play...

The bears were strong the past 2 days. The 20 ma's daily are in play now. The extention with the 5 ma monthly is gone because of the pullbacks. To me the bigger frames are neutral.

I give longs the benefit of the doubt because of the positive 5/20 daily. Longer term, 5 ma monthly is key.