DRC 5/4

Took last friday off in order to get my shtuff in order. Was a good weekend and good plans going forward.

Came into today feeling pretty good and relaxed, no pressue, not trying to force anything and just wait for good trades to come my way.

SPY was gapping down pretty good to start, we lost the rising wedge and the uptrend channel so it was 'last chance' for bulls before I thought wed see some downside momentum start again.

Instead we blew up. SPY ad an ugly 1st 15 minutes but FANG was absolutely ripping higher and SPY shortly followed. I only had shorts planned so wasnt much for me to see on the long side and thats fine.

ORCL



Excellent relative weakness on D and intraday. Looked great, had every sign I wanted. The fail, the volume and the consolidation. Just couldnt go for me. Tape looked A+ too I was ready to double down on the next tick lower, then suddenly it changed in an instant and stopped out where I should.

PPG


Another relatively weak trade. PPG hadnt seen strength all day. Once we retraced back up to HTF level, held above then rolled over with vol, I waited for a hold under vwap as well, got a real nice tight range to work with and a great start to the trade. Went right to new LOD and spiked right back up on me was no chance to cover some. Ended up coming all the way back to b/e and I gave it a shot at vwap and other pivot high again. Couldnt hold it and SPY wasnt helping either.

After exit it stopped right there went no higher. Never saw any volume cues or reasons to reshort it along with SPY still being strong. And no good RR trade to take here was not worth it to go for it again. Ended up drifitng into LOD, failed a new push, and ripped right back up again. Is setting up for a great scalp if it does get there though.

Just not my day. Did what I was supposed to. Didnt take any bad trades, took the ones I should have. Did not expect the market to rip the way it did, so if I dont have plans for that I dont have trades. Good one me for not forcing anything. Didnt see any good SPY divergence scalps, no reversals. Surprising but fine.

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