The empire strikes back.

The U.S. Empire State manufacturing index improved to 0.6 in April from a record low -22.2 in March. The index was much stronger than the -17.0 reading that markets had expected. Employment was flat, after rebounding to 4.5 in March, while new orders rose to 0.1 from -4.7 the month before. Prices paid increased to 57.3 from 50.6 in March, while prices received rose to 20.8 from 15.7. The six-month ahead index slowed to 19.6 from 25.8 in March.
The data were in-line with expectations, and the steadiness in the index since the beginning of the year could suggest some bottoming in the beleaguered housing market.
YouTube - The Empire Strikes Back/ Luke vs Vader

Tracking the dow on Tuesday,15.04/08


9:30am-This morning’s economic data helped spike up the Dow at the opening bell.Take a short-position bearing in mind the long white bar signify that it's a bulls day.
10:30am-As usual this is the pullback time.An early high being set so it must find its low by covering the gap-up.
11:30am-Time to fill up the gap.
12:30am-Confirm that the bullish low has been found.There were 2 strong inverted hammers at 12:00noon.Cover back short-position and long 2 lots.
1:30pm-Retrace to the MAV.A regular phenomenon at this time.
2:30pm-Close out position.This is the PIVOT hour of the afternoon session where pullback will occur.The morning session PIVOT hour is at 11:00am.
3:30pm-Pullback near the day's opening also the bear pivot.Avoid taking position due to time factor.
4:00pm-retrace to the bull pivot.What's that final candlestick...looks like a toppish spin might pullback next day.


Looks like they are faking this mini rally.The candlestick has a weekly lower shadow.they might intend to establish another low for the week as this 3rd Friday is the index futures and options expiry date.Meantime caution again.