Friday, August 14, 2015
Wednesday, August 12, 2015
Look Down And Fail
Well folks, two way auction process, baby!
Nice trading day, as the minor low on the daily triggered a ferocious short covering rally and price closed at the session at highs.
The two way auction process is in full gear, but today has to be considered notice that sellers continue to be punished resolutely and we are on Grind Up Watch once again.
But the market is in two way mode, and that can go on for awhile.
Bias, grind up/consolidation.
Nice trading day, as the minor low on the daily triggered a ferocious short covering rally and price closed at the session at highs.
The two way auction process is in full gear, but today has to be considered notice that sellers continue to be punished resolutely and we are on Grind Up Watch once again.
But the market is in two way mode, and that can go on for awhile.
Bias, grind up/consolidation.
Tuesday, August 11, 2015
Back Down
The rather vicious plunge back into the range, and that was not our bias. But we stayed fluid and took a nice downside trade.
Buyers came in late session and with the swing lows so close at hand, a look down would not be surprising.
But today's selling structure was not great with mechanical lows being bought mid-session.
Buyers came in late session and with the swing lows so close at hand, a look down would not be surprising.
But today's selling structure was not great with mechanical lows being bought mid-session.
Monday, August 10, 2015
Gap And Grind
Well, we call it. Makes perfect sense that the buyers came in today and gunned it higher back up into the range. And with a picture-perfect grinder higher too boot.
The expected follow-through tomorrow will be consolidation with an upside bias.
And if sellers want to come in and fill the gap so be it, but swing buying days tend to be sticky in this market.
The expected follow-through tomorrow will be consolidation with an upside bias.
And if sellers want to come in and fill the gap so be it, but swing buying days tend to be sticky in this market.
Friday, August 7, 2015
Friday Balance
Just a lazy Friday here folks. Morning session action SLOW grind lower with transitional action mid-way giving into short covering.
Action like this will probably bring in buyers come Monday.
Action like this will probably bring in buyers come Monday.
Swing Down
Well, yesterday's excess above failure continued today. The morning action chip chopped a bit but was firmly rejected at VWAP twice before really starting the breakdown move an hour and a half into the session.
Price action was crisp, clean and simply petered out at an arbitrary level at 10 o'clock. The only reference I could find there was the daily trend line.
So, the trend is down once again, but sellers are not firmly bitch whipping the buyers. They short cover like babies.
We will be on the lookout for a buy response tomorrow.
Price action was crisp, clean and simply petered out at an arbitrary level at 10 o'clock. The only reference I could find there was the daily trend line.
So, the trend is down once again, but sellers are not firmly bitch whipping the buyers. They short cover like babies.
We will be on the lookout for a buy response tomorrow.
Wednesday, August 5, 2015
Gap Up Failure
A nice sized gap higher with some morning continuation which petered out and took a nosedive just before 9 o'clock.
Still, the sellers could not even close the gap and a reversal ensued near the midpoint of yesterday's range.
Not something to get hot and heavy over if leaning to the downside, but the Bulls probably should've kept charging today instead of failing.
No bias for tomorrow.
Still, the sellers could not even close the gap and a reversal ensued near the midpoint of yesterday's range.
Not something to get hot and heavy over if leaning to the downside, but the Bulls probably should've kept charging today instead of failing.
No bias for tomorrow.
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