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no idea up or down from here, so far looks like a bull flag.
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Ugh, easy day to draw trendlines, but I can't even try for a two point scalp. Oh well, might as well enjoy the 106 degree heat today. At least humidity is up to 37%.
Volumetrick 5 minute bars showing what it took to break out. Boxes show ticks (trades) with dominate side colored. Yellow is max value for the bar Cyan and Magenta are trade imbalances.
so far looks like an uptrend day, I just find it hard to believe, no trade.
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The battle for 2862 continues. Worst part for bulls is the big band of resting orders is at 2864.
Comment from a paid writer earlier in the week on how calls were dirt cheep. Wondering if that is the emerging srategy for now. Sell the top and buy calls in case you were wrong.
I have an 11 by 17 printer that I use at the end of the day to hard copy and preserve my poor performance, sort of like monks punishing their own flesh. Half of last week and certainly yesterday and today same deal, right around 10:30 eastern a buy program takes off. Just saying until things change adding no shorts around 10:30 to my list of commandments.
Round dots ate trades of 30 contracts or more, FuturesTrader71's (more or less) definition of large traders. You can see how they kicked the sell off into gear. The other sign, to me, is the size of the bid ask delta bar. Clearly somebody wanted out now.
I note the standing buy order support stripe aat ES 2855 has been there all morning and is still there acting as support.
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I added odd stats to my twitter feed. He is a retired econ prof. Today is day 180 from the Feb low. Since WWII or so on 8 occasions the S&P has had a 10% or greater correction that was not erased within 180 days. All 8 of those turned into full bear markets.
Te-ferns rounded top trend lines are very scary given that stat.