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Nice...talk about parabolic moves!

Where's everybody at? feels like this forum is getting quieter by the day

I'm sure if you look hard enough you will find some firms that are still backing directional traders. In fact there are some guys in my office that are backed and trade directionally(intraday). The firms that do this are probably going to be lower on the totem pole as far as the trading industry...

Seems like a very good R:R trade. YTD GLD-SPY has looked very good. Gold has been squeezing shorts since that large push up at the end of January. This wash out is probably healthy if anything! Plus gold just freshly broke its previous downtrend while equities have been grinding higher for a...

I'll be watching it :). Market does look overextended...seems like you are looking for a significant pullback here?

ouch.

throw enough lines on a chart and you'll get some that stick imo. I don't want to hijack either. However, ACD is based off of time cycles. Intraday the cycle resets everyday and if you are true to that basic principle you wouldn't be using it in the manner that you are.

Are you sure about that? Would you use January's monthly level for S/R this month?

They are volatility levels. Price does test them...the way you asked your question you were referring to yesterdays A levels for today's action. The intraday levels reset everyday. Yesterdays A levels(intraday) have NO bearing on todays action!

Thats not A how levels work...they are not support and resistance!

VNQ as well...number line showing its usefulness

there you go...Oil finally rolling!

some decent spreads making new highs here :)

Welcome to Econ 101. The op is asking a specific question...which I don't think there is a specific answer to. Does the fed buy equities in some manner? I don't know if they do it directly but there has long been speculation that the fed is routinely in the market in some form bidding up...

I hope you sensed the sarcasm in that response :)

Looks like the market wants to chop here for a bit another failed a down. Failed a down in FCX too, it started the month with some weakness. Copper and Oil with the nice moves today!

GS still holding in here, failed a down and a up.

lol. did you get on SlV OR GLD today?

lol i wish that would have happened an hour earlier!

This spread was on fire today! XHB-USO