Thursday, February 28, 2013
Wednesday, February 27, 2013
Tuesday, February 26, 2013
Monday, February 25, 2013
New Moon Madness
The Temptress finally feasted heartily today on a steady diet of plentiful laggards.
After watching an ultra-low volatility multi-month grind higher, the true trend day print is not easy to wrap one's mind around as it's occurring Recently bias is very strong.
However, the astute trader had plenty of evidence to build his argument for a day like this unfolding:
1) Obviously, a huge daily super grind higher was well due for a big puke. Price is below highs too. But for this situation to take hold, multiple evidence trails must show their hand.
2) Friday's low volume move higher was quite uninspiring and would add failure fuel to the fire if downside movement picked up.
3) As the gap up based and then failed, the ducks started to come into line. By 9:00 we had the table set with:
a) Volume increasing on the downward swings. Although initial balance volume was not up, volume came in strongly thereafter.
b) Steady, non-liquidation, type selling with high-confidence swings moving lower, firmly respecting fast line moving averages.
c) Strongly trending inter-market themes. And NONE of them were messing around. Bonds firmly trending, AUD firmly trending, Euro and dollar firmly trending. VIX screaming higher.
d) Neutral but firmly trending A/D sediment.
e) Financials and semi's leading lower.
f) Did I mention already the EXPLODING VIX?
g) Exploding negative cumulative. It was -120k by 9:00. You don't see that very often.
4) After 9:00 it became of game of monitoring symmetrical swings. Without any signs of liquidation, steady selling will reverse perfectly at prior breakdown zones. That's what happened today as sediment trending lower across the board. TICK picked up with multiple -1000 readings and no upside +800's. Just no sign of impending reversal as this "1st day big down" had continuation written all over it.
After watching an ultra-low volatility multi-month grind higher, the true trend day print is not easy to wrap one's mind around as it's occurring Recently bias is very strong.
However, the astute trader had plenty of evidence to build his argument for a day like this unfolding:
1) Obviously, a huge daily super grind higher was well due for a big puke. Price is below highs too. But for this situation to take hold, multiple evidence trails must show their hand.
2) Friday's low volume move higher was quite uninspiring and would add failure fuel to the fire if downside movement picked up.
3) As the gap up based and then failed, the ducks started to come into line. By 9:00 we had the table set with:
a) Volume increasing on the downward swings. Although initial balance volume was not up, volume came in strongly thereafter.
b) Steady, non-liquidation, type selling with high-confidence swings moving lower, firmly respecting fast line moving averages.
c) Strongly trending inter-market themes. And NONE of them were messing around. Bonds firmly trending, AUD firmly trending, Euro and dollar firmly trending. VIX screaming higher.
d) Neutral but firmly trending A/D sediment.
e) Financials and semi's leading lower.
f) Did I mention already the EXPLODING VIX?
g) Exploding negative cumulative. It was -120k by 9:00. You don't see that very often.
4) After 9:00 it became of game of monitoring symmetrical swings. Without any signs of liquidation, steady selling will reverse perfectly at prior breakdown zones. That's what happened today as sediment trending lower across the board. TICK picked up with multiple -1000 readings and no upside +800's. Just no sign of impending reversal as this "1st day big down" had continuation written all over it.
Friday, February 22, 2013
Thursday, February 21, 2013
Wednesday, February 20, 2013
Tuesday, February 19, 2013
Thursday, February 14, 2013
Nothing To Write About -- At All
Coma. Abandoned. Nothing to post for days now.
However you want to describe it.
ATR is printing news lows pretty much every day.
This grinder is going to awaken with some movement at some point. And it sure feels like "soon" for this trader.
The last 5 days have just been insidiously slow and my emotions are just another indicator. And I'm bouncing off the walls.
However you want to describe it.
ATR is printing news lows pretty much every day.
This grinder is going to awaken with some movement at some point. And it sure feels like "soon" for this trader.
The last 5 days have just been insidiously slow and my emotions are just another indicator. And I'm bouncing off the walls.
Monday, February 11, 2013
Ultimate Boredom
Total inside range day and volume dropped off of the map. Today might be considered bearish as yet buyers could not do crap. But, you know, it's all about waiting and not fighting the trend. So we see if the market-coma decides to initiate change!
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