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Yesterday was normal volume at the two year median according to FT71 this morning, almost double the 600,000 contracts we have been seeing recently. But the volume profile was a square. So high volume, big range, no consensus on a fair price. Now this morning a big up channel as price has no problem retracing. Needless to say that works in both directions.
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te_fern wrote:The TICKs appear to be struggling at their MA lines.....
Based on your chart, the TICKs are forming bear flags and rolling over. We could see a major decline in the TICKs if they go below their lows from yesterday. But then again, they could move below their yesterday's lows as bear traps only to reverse and make a sharp run up. So confirmation will be key.
Should be a consolidation day. Eventually Cobra will confirm when he calls it a range. Should mean only the scalpers make money today especially if that last swing turns out to be typical.
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testing range high as expected. there're some chances it'd break the range because QQQ is strong.
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big gdp fri , apple next tues. skew still high and needs diffusion...290 spy calls august/early sept super cheap/ downside protection premium way too high - contrarian view.