Daniel wrote:Both NYSE and Nasdaq advancers are strong and near (or at) the hod. Up/down volume has been strongly bullish since the Open on Naz, and somewhat strong on NYSE.
..Still true--even more so--as NYSE finally registers 2000+ advancers.
Nasdaq up/down volume has cooled off a bit though...
There are few pockets of weakness so far today. XRT is one of them-- down >1%.
Since Retail has lead the upside charge the past few sessions, this is now a headwind. But most sectors are heading in the same direction as the indexes.
SPY, QQQ, IWM, MDY have all tagged 52-week highs today. DIA has come close but so far, not yet...
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I put the Fibs up on the small caps just for grins. Need a nice bounce this afternoon or this chart will spell pullback. Afterall they have had several days of big gains so one is due.
Everyone have a happy Thanksgiving! One of things I'm thankful for is a great group of people and to share ideas and learn from. Also, thank you Cobra for putting up with us! I will have sporadic internet service where I'm going (rural area), so I will talk to all of you again on Monday!! Happy trading!
The ES brings back college chemistry when we had to learn the electron orbits and do the energy calculations to move between them, i.e. quantum jumps. Just apply energy (liquidity) and it moves from one steady state region to the next one further out. Of course the operation goes the other way as well (once the central bankers cut off the liquidity stream).