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Very interesting...Al_Dente wrote:SUBMITTED FOR CONSTRUCTIVE CRITICISM
[WORK IN PROGRESS]
According to Bloomberg, the big guys “smart money” play very big AT THE CLOSE.
So I’m looking for a 1) spike up in price at the close (top panel), and 2) a spike in buy volume at the close (green panel) to suggest up next day.
If I don’t see buying at the close, it suggests no conviction for up next day.
Looks promising so far, with cyan boxes indicating fails…….. stay tuned….
Couple of notes:
1) analysis is based solely on price and volume at the close, and ignores the participation indices (nyadv, nydec, bottom panel) for the moment.
2) the 400-lines on NY volume are arbitrary numbers and may be changed.
3) bloomberg pegs this to INDU rather than SPX
bull volume eases off to 1.5x, and that’s just not enough to support this +188 point dowAl_Dente wrote:AD is weaker today than yesterday
BUT NY bull volume = 2x bear volume
good points, thanks bossTrades with cats wrote:Well ETF ETN rebalancing is supposed to be a really large chunk of it. Makes sense that they wait for End of Day to sync up with the underlying. Another area is the last 15 minutes of the futures market from 4 to 4:15. Us little guys have to have enough cash to cover full exchange margin at 4 so for 1 car of the ES my margin requirement goes from around $500 to around $5300 so it is a safe bet the last 15 minutes are the pros only. On the days where your new system fails I would look to see if the Futures reversed the closing move.
mind TLT VIX VXX all at HOD and green.. "may" see profit takingCobra wrote:pullback, I mean the dent will be bought again.
mind SPY's open gap for crazy close for the long weekend.fehro wrote:mind TLT VIX VXX all at HOD and green.. "may" see profit takingCobra wrote:pullback, I mean the dent will be bought again.