Determining trending/range bound days

[spibok]

Hi guys, would be interested to hear thoughts/opinions on determining whether the days action on the SPI has a greater probability of being range bound/trending. What pre-market clues do you use? What do you look for? Would be particularily interested to hear from Trembling, MR&C and any other pro intraday traders. Obviously , getting caught on a day like today looking for a rangebound day would be painful. I recall Trembling saying one could make a living just from being able to determine that, and getting oneself in the proper "posture" premarket or at least early on in the day would seem vital. Much appreciated.

 

[Frank D]

SPI Weekly and 5-day pattern

SPI Trading above the Weekly 50% level:- 2-day stall under 3271 and 3rd day up move (today), .

This was confirmed with a breakout Friday’s highs @ 3295

A trending day could see the SPI around 3373 by today’s close
(or higher)

Especially if it breaks 3345 after 3pm:- 100% Weekly range.

Around 3345 I have resistance that could see the SPI move back down
into Friday’s breakout…

But today can be one of those days that just doesn’t move lower than a
20-22 point intra-day swing and just continues higher.

It's always high risk to be short-trading a 5-day breakout....

 

[Trembling Hand]

I recall Trembling saying one could make a living just from being able to determine that,

I would add to that you will really struggle to make a living if you carn't do that.


For me its always rolling analysis,

Pre-open had resistance @ 3317 and 3346. support @ 3270.

On opening below SYCO close I favoured the short side on any flick up until 10:15 where I flipped because of the 4 higher lows. had up side target @ 3317-20. When we took that out on the second go 3346 came into it.

After that for me I was each way whether we would run higher, roll back or just stick around. so I went into fading all moves. Days like today are rare but as you said they can cut you up if you are fighting it all day.

You have to find a way to find probable targets then the even harder thing is getting the execution of your ideas right.

 

[suprsnipes]

Pre-open had resistance @ 3317 and 3346. support @ 3270.

I posted a question yesterday regarding the pre-open data from Sycom and was wondering is there anywhere I can get this information for free and if not what would be one of the options I have to purchase this?

Thanks.