Power moves in both directions at the same time of day. Down on Friday, up on Monday.
Blue bands are standard deviations off of VWAP.
Gray green lines are a rewrite of Fat Tails range projections. They are 20 day average noise range. On paper if exceeded then other than day traders got active, like this morning to the up side.
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Quoting from the 2018 almanac
Week after June triple witching day Dow down 23 of the last 26
Recent Record: S&P Up 12, down 9, average loss 0.3% ranks 9th. Stronger for NASDAQ average gain 0.7% last 21 years.
Watch out for end of quarter "portfolio pumping" on last day of June
This down channel isn't going anywhere fast. Threatening to turn into a range. We are firmly inside the statistical noise zone now when we should be seeing the post euroland close move. Something must be wrong with the trading bots!
Yup, out of the channel. Make it or break it time for sure. Either it closes the gap or forms a double top , or we just drift here in no man's land.
Side note I am seeing a volume spike about every half hour this morning, on the hour and on the half. I am guessing hedge fund traders got new fancy watches for father's day and are playing with the alarm function.
Trades with cats wrote:Yup, out of the channel. Make it or break it time for sure. Either it closes the gap or forms a double top , or we just drift here in no man's land.
Side note I am seeing a volume spike about every half hour this morning, on the hour and on the half. I am guessing hedge fund traders got new fancy watches for father's day and are playing with the alarm function.