Let's Review Shall We?

We got our three legs on Friday with the first and last leg being the nastiest. A clue to the weakness off the double bottom was the complete failure to even get to the 50% retracement level. We usually see a tap of the 50% and 61.8% before ultimate direction is decided. We could not even muster up the strength to get to the 50 on Friday. In addition we see a strong double top below that level with the right side being lower than left - a signal of a strong double top formation. Coming out of the doldrums, we see consolidation on the doldrums low, a kick up
to the 50% retracement of that move down and then off to the races once there was a clean break of the doldrums low. There was a move up to kiss the low once the break happened, but it wasn't fooling anyone, except me. The....well, then classic stair step down for the rest of the day.

My 15-min momentum indicators stayed solid short from 6:00 am to the end of the day. My 5-min indicator was short from 5:15 am to 8:45, and again from 10:05 to 10:50, and then from 11:05 to the end of the day (3 legs). At no time were either the 5 or 15 minute indicators bullish. My 2 min triggers fired a long at 9:45 which I would not have taken if I was properly day trading because the 5 and 15 were short. I then had 3 solid 2 min triggers short, which would have made me a nice profit if I was in the right frame of mind. So, in the end, my day trading signals did not miss the day.