Boomerang Trader

Monday 6/28 Slight micro bullish bias today with short term bias bearish

Posted on 29. Jun, 2010 by Johnnyr in Daily Recap

Good morning.

On the Daily Directional Forecast Monday Mohan’s briefing suggested that a slight bullish micro bias had entered into the Market Force Indicator readings.

When this occurs we want to look for the surface tape bias to start to turn bullish as well. If not, and it remains more Neutral then we can look to work both sides of the market with Boomerang.

On the charts below you can see the Daily Directional Forecast coming true as dips hold up and prices rise. However, note the Trade Bias Selector getting exhausted to the upside and a smooth reversal occuring.   This reversal is due to the Market Force underlying bias being primarily Neutral.

This is the best way to trade the markets and especially using Boomerang Scalp Trader.   It  is like the 4 legs of a winning race horse

* Correct underlying bias   *Correct surface bias (tape reading)   *Clear chart reading and indicators (Boomerang Scalp Trader) and * understanding of day trading pattern setups.

So check out these charts on Boomerang from Monday and you will see the correlations.

Tags: day trading, e-mini, emini, indicator, S&P 500, scalping