9-20-10: Trade of the Day

Trade of the day was to take the tight balance trade at the 11:00+AM (PST) trade.
That is if you missed the A period break from balance!

Of note:

1) Morning move up was on above 45 day average volume, Multiple 10K plus positive delta readings. Clearly institutional buyers are in the market.

2) Extended balance formed at daily breakout zone of previous chart resistance.

3) Morning's only pullback did not touch VWAP.

4) Morning pullback printed no VB negative delta readings below 6k.

5) Morning pullback printed no readings below -600.

6) Strong, trending solid green UP volume and A/D readings above +1,500

7) Cumulative TICK solidly green.

The TICK was probably the biggest tell, with only one print below -600 all day!

All of the above factors are supporting factors to the tight balance pattern in which the breakout occurred.

9-10-10: Friday -- Grinding Upwards

One thing that jumped out at me, and I've not heard anyone else make mention of it, but this market is trending just like circa February to April. None of the up swings since the top and post flash crash have "felt" like this.

Of crucial note, Friday churned up right at the daily 200 day moving average. Given the daily head and shoulders pattern and the persistent nature of this swing move, I'm going to call out here that I think the odds move it to the upside from here. Not to new highs, mind you, but still further up.

9-2-10: Thursday -- A Trade of the Day!

8-31-10: Balance

When this balance area violates itself either up or down, look out if it's done on above average volume. It will probably have to be somewhat of a chase entry and those can be difficult. But if it is truly a break from balance then it should be a significant move.

8-19-10: Thursday -- B Formation

8-18-10: Wednesday -- 3 Nice Trades

8-17-10: Tuesday -- Stealth Buying

It's always interesting to find that the market is always showing it's hand -- in one way or another.

Yesterday at the close, I noticed persistent positive readings in the cumulative tick indicator for the prior thee days (which is just a running total of upticks and down ticks of the NYSE TICK) despite price grinding moderately lower to neutral.

I was going to post this last night, and now that today was a big gap up and go day, I can't procrastinate any longer : )