Shut Down Day

Fine that the excess tails failed.  We were aware of that in this pure-news environment.  Technical stuff of limited merit.

It was obvious from the get go to not even bother to fight long.

And then the NYSE shut down, probably as a result of the Chinese markets imploding, just made it a hands off type of day.

Nice 9:00 low reversal trade back to VWAP and a nice VWAP transitional structure short at 11:00.  Even in a market shut down, the 9:00 and 11:00 zones were in play

But with the NYSE and TICK out of commisison, it was one wierd session we just watched.

Grind lower down low confidence and prone to reversal.

How can it not response up tomorrow?

Vix way up:

Metals and a stock or two are very good examples of how markets really work when buyers froth to the upside.  Ultimate pain and ensue -- for years.  

Today's action: 

Patterns Do Repeat!

Shocker!  Yet another very nice morning trend from the open!

Today's reversal pattern was a transitional structure print at S2 just before 9:00.

And then is was short covering from there: over 40 handles in all.

Yet, not sure why the VIX topped out and ground lower today with the indexes exploding in volatility.

Tail!

After days and days of sellers failing, today prints the motherload of an excess tail as a failed once again.  This environment is full of news, but the path of least resistance appears to be higher.

This market is moving with volatility up.

Going with the morning trend has been the trade of the day now for many days in a row.

And range extremes have been providing powerful rotational opportunities.

Another Failure

Yet another nice morning trend.

And mid-session, this market printed and utterly perfect transitional structure reversal at the S1 level.

Trade of the day for a sleepy pre holiday session.

Hello July!

2nd session in a row of gap up and morning trend move lower to fill the gap.

Then support is hit and buyers come in.

The market is uncertain but NOT rolling over.

We expect upside responses to continue.

Good Bye June

Last day of the month snoozer.

VIX still near 20's after it's strong breakout from the bottom of the range abyss.

After yesterday's selling event, price gapped up then ground lower until midsession. Very respectable rotations from high to low after that.

On the five minute we note just how mechanical the selling was. For priced about at the gap fill, and then subsequently bounce at the prior session lows, tells me that real sellers are not around and we are looking for push higher.

Hello Greece

Hello Greece crisis!

With the markets unable to feature intraday volatility of more than 1% for months now, it was nice to see a truly out of balance market with an explosion in volatility.

With this huge move down, the markets could very well be kicking off a substantial downtrend. And with volatility up that will mean higher opportunity for daytrading. And then of course, at some point some juicy short covering rallies.

It was interesting to have seen the market gap down so far on Sunday evening, only to short cover into today's session open. And then forcefully grind down back to the gap downloads. A beautiful two-way auction example.

Pop goes VIX

Overnight action:

Overall: