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well, guess that's it for today. Thursday tomorrow has been mostly bull friendly, however a red FOMC day usually leads to another red day until recently, wrong 3 times though. thank you guys, I'll see you tomorrow.
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KeiZai wrote:ES looks like is in triangle (1minute chart), just for the record I am taking some profit here and looking to sell the bounce later
small cap will lead the sell if there will be one. I will make a move on next extreme counter trend setup on IWM.
What I don't Like in small caps is momentum in this leg seems to be strong and without divergence so one more attempt for new high cannot be ruled out so I am watching two possiblities here
My satisfaction always came from beating the market, solving the puzzle. The money was the reward, but it was not the main reason I loved the market (Jess Livermore)
KeiZai wrote:ES looks like is in triangle (1minute chart), just for the record I am taking some profit here and looking to sell the bounce later
small cap will lead the sell if there will be one. I will make a move on next extreme counter trend setup on IWM.
What I don't Like in small caps is momentum in this leg seems to be strong and without divergence so one more attempt for new high cannot be ruled out so I am watching two possiblities here
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Thanks, I think we are on the same page, buy first but then the roll down will be chased also at where it's at now.
My comments are for entertainment/educational purpose only. NOT a trade advice.
jack black wrote:What kind of surprise are we supposed to hear from Fed today? I'm thinking there will be no surprise whatsoever. They will taper based on data, etc, etc.
some rumors suggest a RAMP UP in QE vs... tapering... fwiw.
LOL, based on the action today, looks like the rumors of QE ramp up were priced in the markets indeed. Crazy if you ask me. People are way too greedy. This will not end well.
BullBear52x wrote:short term for tomorrow is bearish
Yep bounce is corrective imo
see u tomorrow
My satisfaction always came from beating the market, solving the puzzle. The money was the reward, but it was not the main reason I loved the market (Jess Livermore)
jack black wrote:OK, I googled for some explanations and came up with this
Wow.. I can be Googled now...? I am famous!!!
I think I had posted the same information, with variations, here many times.
Thanks for looking that up Jack!
You are famous all right!
Here is what Cobra wrote 3 years ago:
The "Phantom Bar" is just a name given by the finder in my forum. It simply shows a false trading record in the intraday chart. Those false trading records however most likely point to the future target. A simple explaination about this fasle trading record is: big guys do trade in the "dark pool" and the false record is where those big guys traded so it's not false record, it does happen behind us! And so it's almost guaranteed to be there eventually because those big guys are capable of anything.
Are you the "finder"?
What Cobra wrote is what I was thinking about, results of algos trading in sub-second timeframe. Sometimes that trading produces "flash crashes" in millisecond scales. The exchanges do a good job catching/stopping/cleaning up those, but sometimes, it goes through. Someone needs to backtest those.
Just for fun... I have found this is often the case in any time frame and I use it all the time to look for reversals. Market tends to encounter resistance at major MA roll over points from the most recent past. Take a look at this chart.