Fat Tails programmed weekly VWAP and range tools, so I have put them on a five minute RTH chart with a simple weekly volume. Makes it painfully obvious that Da Bullz are on the edge here.
bear did good today at least not one legged. now let's see if bulls can make double bottom here.
Attachments
Like to read more of my commentaries? Please subscribe my Daily Market Report. Subscribers can find all the members only posts HERE. StockCharts members, please vote for me HERE, thanks.
Going to have to shake the tree. VWAP on the ES is just at 42.0, you know they need to touch it by the close. If I had staff I would pay them to go back and count the number of days, but my gut says way better than 50 50.
Like to read more of my commentaries? Please subscribe my Daily Market Report. Subscribers can find all the members only posts HERE. StockCharts members, please vote for me HERE, thanks.
Like to read more of my commentaries? Please subscribe my Daily Market Report. Subscribers can find all the members only posts HERE. StockCharts members, please vote for me HERE, thanks.
Biotechs strong all day. Sometimes they signify "risk on", and prop up the Naz; sometimes they are countertrend hedging and rotation plays... Always hard to read.
But still, IBB is back over 300.
Another bright spot for the bulls-- ITB (homebuilders) closed green, and well off its lows.
Most sectors I track closed at or very near their lows.
Thanks always to the Cobra. GLTA.
Last edited by Daniel on Tue Jun 20, 2017 4:07 pm, edited 1 time in total.
Not good for the Asian session. We will see if PBoC decides to turn this around with a liquidity bomb. Otherwise this is going to look like a low volume spike high fading away.