BOTS MEASURE STRENGTH OF MARKET

Today was a special day.  Up early because market was looking for a major move.  The BOTS were prepared, and posted to various chat rooms by 7:20 AM.  The wait was not LONG.  Greece.

The short BOTS hit.  There were no longs until bar 54, which hit our targets, and were reversal shorts.



TODAY:  BOTS MEASURE MKT STRENGTH

Normally you only see the current day BOTS (break out targets) and a discussion of the daily action.  They work, and there is an indication that more people are using them as a guide to the market.  A few indicate that the long or short is held until mid day, if not longer.

But the BOTS have a bigger picture.  They can measure the strength of the market move.  Today, we see three short targets broken.  6/14 and 6/13 levels have been left on the chart for your review.  Bull PB's were contained by the next higher BOT.

BOTs are trading ranges calculated before the market opens.  They provide a look at the price action as it enters upper and lower ranges.  A break out is considered important and a trend is expected.  That trend today was very strong.  Some scoff at the name.  If it helps, think of it as the Upper Trading Range (UTL) above the middle, and the Lower Trading Range (LTR) below the middle target.  And yes, I know it is not the exact mid point between the top and bottom.  Call it the center, or "between" line. If it is available, it serves a purpose.

A better approach, why don't you embrace it, try it.