Thursday, September 11, 2014

Sellers Bitch-Whipped Again

Rollover day today and the market just balanced with an upside trend. Sort of a hybrid checkmark day.

There were multiple trades that were respectable today. 1) the c period minor low just before 8 o'clock. 2) the 9: 30 gap fill reversal. 3) the pull back to the VWAP and value area low right at 11 o'clock.

Of all of these 3 trades the 11 o'clock trade gets my vote as the trade of the day. This market just has no sellers in it and once it starts grinding there are just not enough longs in the market to shift inventory out of balance for an afternoon pullback.

So for tomorrow we maintain our bullish bias and expect the buyers to come in once again.







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