Wednesday, June 30, 2010
6-30-10: Wednesday -- Fresh Lows
It's never easy to still be awake when a almost full day of balancing action breaks out in a flurry.
However, there are a couple of tendencies that many times are present before the afternoon liquidating break -- possibly alearting the astute trader to keep his eyes open!
1) The day is unable to trade at or above the overnight highs. (And the overnight highs are below yesterday's range highs.)
2) A series of lower highs print below the HOD.
3) A base on or just below the VWAP before the final breakdown.
Today's low volume probe above the A period highs, fell short of the overnight highs by 3 ticks. Then lower highs ensued, followed by a multi-hour base that oscillated around the VWAP.
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