Tuesday, August 13, 2013

Are 2nd Standard Deviation Laggards On The Lose?

For me it's a new world order in the futures markets.  What happened today, I've never scene before, or at least recall seeing.

A morning push down to the previous day's lows and a reversal at 7:30.  Same as it ever was, as this pattern has occurred now 5 out of the last 6 days.  Happens all of the time.

But today's subsequent straight shot, 2nd standard deviation punch to new highs, and double distribution move, happened on strongly balanced metrics.

Volume barely higher above yesterday's pathetic readings.  Not even one  +600 TICK reading for the entire push higher and one lone +600 reading last hour.  Small caps majorly diverged as a host of other sectors.  Advance decliners firmly negative all day.   The day's ATR was even up a solid 50% without the increased volume to support such an increase.

But financials, semi's and tech were leading sectors today.  And Apple printed a short squeeze breakout over it's 200 day.

Either it's a new world order or, crappy under the hood action like this, is going come home to roost at some point.






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