maybe the range low was in. now seeking range high, assume it's the day high.
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Once hearings opened (10:00 Eastern) standard pattern took over, selloff into euro zone close plus or minus 15 minutes, bottom and then going back up followed by an afternoon flat line. Waiting for the flat line to start.
Been listening live and we are now at the making speeches for our re-election campaigns stage of the hearings. Fun to see who is semi-skilled at this and who is just asking a few questions before launching into their prepared remarks.
Tin foil hat theory Goldmans buyback desk knew that today would be volatile and they were ready. Yes yes Apple VWAP is not the same but market VWAP is a composite of the heavy hitter high volume stocks so it and other major buyback players are a significant part of the index. More importantly by back money is mostly controlled by the same small group of traders at Goldman, so yes they are connected, that is they should act in concert. Especially on a day like this where new buyers at all time highs are needed. While investors continue to pull money out of equities. Finally, if the stock doesn't stay up you would think the responsible trader would make sure they followed the clients instructions. And we know from the interview that is to buy below VWAP. Assuming VWAP for the stock, not the market.
Tweeted by Investor Sentiment
"According to the Investment Company Institute, investors pulled more than $28 billion from equity funds (mutual and exchange-traded) in the week before Independence Day. 4th-largest outflow in over a decade. https://t.co/qyWY9pmsU6"
Just say'in kinda looks like selling the top on the surface.
Hey today is a new day. Wondering about a 3:30 ramp express to close over 3,000 ES. Assuming they can't hold it here for another 90 minutes.
Clearly Fed Minutes not met with wide approval.
Just pointing out the voodoo accuracy of the measured move on the two legged advance. Always amazes me that something so simple can be practically to the tick.
don't know if this means the range high was in. I generally avoid shorting, will wait for the test the range low anyway.
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Chart for the road: Look at the gaps, the power that be painting on the chart pattern, this is more of the reason for me to day trade only, say "Hell" to overnight gaps.
And Liquidity is not in the house, stock is going up from a magic hands somewhere, things that make you go Hmmm. Peace!
My comments are for entertainment/educational purpose only. NOT a trade advice.
Best way to make money trading is move to London as they get way more action trading part of the night and the the first 2 hours of the US. Have seen the charts. Problem is the weather and rents. Confident rents will come down after Brexit and it is the fine dining capital of the world for now.
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.