Another Buy Response

A few structural cues to point out from today's action.

New all time highs and minor sell response from that for a day trade.

Highest volume day of the year. Initial balance volume off of the charts.  Great information to frame day trade ideas with.  Highest volume print since fall of 2011.  And let's see what happened back then.

But looking for the buyers to show up again pre-holiday.

 

Power Day Higher

Yet another power move by the buyers as the indexes are within spitting the all-time highs.

Nice structural trade well framed today.

We will be looking for balance tomorrow with an upside trend.

Lots Of Movement -- Yet Again!

Despite it being Fed day, nice morning continuation pattern structure printed for a nice trade.  Afternoon vwap pullback trade amazing! Up 2% on a fed day? Trending action?  

So is this the last two weeks and a start of a fresh swing higher?  Probably.

But lots of longs in the market now, and the two way auction process has been alive and well, so a push down would not surprise either.

Lots of Movement

Huge volatility day.  Our upside call materialize only to get cremated.

The 2nd standard deviation of VWAP has to be close to a major record.

Structural cues all over the place yet again.

Historical data suggests upside into tomorrow's fed day and last two weeks of the month.  Sellers just don't tend to fight the trend.

But we will see.

Lots of Movement

Like we said on Friday, the afternoon liquidation set up for push higher and that's what we got.

But the open was sold hard with 2.5 relative volume that really set the stage for some high volatility selling -- and then buying.

We noted early on that selling was to steep and we handicapped that the day was a low odds trend day.

The first trade on our radar was the prior session range low zone first hour and a half. This trade has been golden and it did produce points, but it was immediately retraced with new fresh lows. And from there the key nuance to note was the truly heavy volume driving the market, so you had to handicap the odds for more selling.

The next trade zone was S1 and the ominous 9 o'clock. With a minor low of S1 printing, the clock ticked 9 o'clock and a powerful reversal ensued of 15 points.

For a to the tick 9:00 reversal to set the LOD, the sellers were essentially toast the rest of the session -- at least that's what the odds said.

And we point out that the heavy program selling action all afternoon that resulted in little downside, sets the stage for short in the hole.

Friday LIquidation

Late session puke fest closed the market on the daily 50 day.

Late session pukes tend to get reversed the following session.  I had no edge to game the breakdown with my style.

We feature today's trade of the day:

9:00 lows reversal -
Additional structural ques -
-- Morning balance and low confidence break lower from it
-- double minor low lead in
-- S2 to the tick.
-- Up-sided diverged NQ and TF.

Does does not get any better than this.

2nd nomination is:

1st hour and a half balance breakout trade:

This simple structure is to go with the breakout in the direction of skewed tick. Today's tick MA was clearly below zero and tick no readings even + 600.  Didn't pay much but the structure prints over and over again with high odds.

3rd nomination is:

11:00 reversal.

-- Transitional double top at VAH with solid tick diverge.
-- Negative -1500 sediment on the day.

Two Way Auction! Yep, Yet Again!

We were correct in identifying an up push for today.

Quite the barn-burner out of the gate that petered out at yet another 9:00 transitional reversal pattern HOD  and MINOR HIGH of the PREVIOUS SESSION.

Trade of the day.

Utterly perfect and powerful structure that prints over and over again.

And this minor high reversal dug in it's heels to print a move to session lows.

2nd day in a row where a 12:00 bounce occurred -- and then the 12:30 reversal back lower.  And that's just a trip.

Beat Down

Well, no follow through today and the two way auction pummeled yesterday's longs.

Another not real high confidence beat down today and 2nd double distribution day in a row.

We expect some upside tomorrow.

Good structure intra-day to hang your hat upon.

The early morning balance had three VWAP rejections, indicating that sellers were in the house. While the price action triangulated to the downside shifting the odds to downside breakout.  The breakout powered until S2 and 12:00, and produced a nice reversal from there.

Lots of action in the slides today!