Crappy Sediment: Yet the 50 Day Holds

Multi-day balance area and the last few days have sported some really crappy sediment readings -- yet the market does what it should: Hold the 50 day.

I'd be short overnight but we have the 1st day of the month buy-fest on tap for tomorrow. I still think that it goes down, but don't want to play against the 1st day of the month of December and Santa's Elf's.

50MA Daily Triggers a Double Distribution.

Thanksgiving ushers in a double distribution afternoon feel-good rally off of the 50ma. Financials were strong AM and a test of the daily 50ma that "just faded out" said "forget the short side".

Given today's rise on crappy sediment, a break out tomorrow above today's range highs on anything but ferocious internals will be a fade trade opportunity.

Unfounded Breakdown!

Today was tricky. The coil and go breakdown below the VWAP made NO sense to me given the moderate structural dynamics (and a crap load of stocks up despite the financials and energy). I've seen many a day far weaker in structure never make it more than a tick down before reversing!

But, alas,my suspicions were well-founded as the market V-reversed today all the way back up to range highs once the S2 destination target was met.

All hail the computers!

Reversal Day

Balance With Last Hour Breakout, Inside Range Day

Extreme Sediment Day

Inside Range Day

I'll be on watch for some lame push to new lows that the waiting bulls will love to punish : )

Friday Sell Day and the MUB

2nd Day of "The Grind"

Bull Market Clockwork Bounce

Today was a clockwork bull market 7:30 reversal at the daily moving 10 average. And they insulted the bears further by taking out the A period excess selling tail with a full re-trace -- with some upside range extension to boot.

Liquidation Double Top

Here is why it was worth a shot to short the morning range highs today.

This is a textbook daily double top with trend day down protocals.

The trick going forward is to determine if it was new business shorts entering or just a re-balancing of the laggard longs.

Trade of the Day: Break of Range Lows in ES without NAZ and DOW

Sometimes it's good to just review the basics: When the ES breaks out of it's range and is not accompanied by two of the other major indexes, then the odds are ripe for a reversal. Add in zero up/down volume readings along with neutral Advance-declines, then even better.

Pattern of the Week: TICK - Price Divergence

11-2-10: Tuesday -- Get Ready for a Big Move!

11-1-10: Monday - 1st Day of the Month Trade Gets Faded

Just trying to do the analysis of today. Despite today's selling that blew out a host of longs, it was not "vicious" and the mechanical lows were re-traced hard.

Here comes the Fed.

Let the games begin.