pullback too sharp, we're just in range, no direction.
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Discrepancy of "bullish" SPX and "bearish" RUT suggests that the breadth of the market is too weak for a bullish scenario. And if we consider the Bullish Percentages the SPX/RUT discrepancy is confirmed.
Out of Bounds wrote:According to Ben Lichtenstein (Squawk from Chicago) there has been a persistent seller of /ES for that last hour who might be near the end.
Right now on 1m 200sma should be a bounce first or else this bull is too weak
Out of Bounds wrote:According to Ben Lichtenstein (Squawk from Chicago) there has been a persistent seller of /ES for that last hour who might be near the end.
OoB - what do you mean by "near the end" No more futures to sell going broke or about to jump into Lake Michigan with a heavy stone bound to his feet
Out of Bounds wrote:According to Ben Lichtenstein (Squawk from Chicago) there has been a persistent seller of /ES for that last hour who might be near the end.
OoB - what do you mean by "near the end" No more futures to sell going broke or about to jump into Lake Michigan with a heavy stone bound to his feet
No! He's been steadily selling (2000 cars or so) and may be finished soon.
Out of Bounds wrote:According to Ben Lichtenstein (Squawk from Chicago) there has been a persistent seller of /ES for that last hour who might be near the end.
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BofA Merrill has another update of who is buying and selling up at Zerohedge. Same old same old as institutions continue to sell, but now joined by hedge funds. Once again corporate buybacks are the only money going in to stocks, and as forecasted, at a somewhat higher level than last year. Hedge funds and institutions have been buying etfs.
My take on this is to question who is doing the stick saving on FANG.
Out of Bounds wrote:According to Ben Lichtenstein (Squawk from Chicago) there has been a persistent seller of /ES for that last hour who might be near the end.
Well that's 12pm and I'm done for the day to curb my afternoon winrate/overtrading since there's no edge in this shakefest. Good luck everyone.
Sticking with what works, 8AM-12PM my best profitable times