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Our very own domestic market seems to be hangin' heavy although we've been getting the requisite turns when sellers lose their mojo. This afterhours follow Hang Ten 'cause the Hang Sen may give the needed push to the next support level.

Rotation

It can also tell you when a reversal is imminent. If the spread swings from an average value from above to below then enough juice is flowing countertrend to effect a reversal.

Futures will arb toward cash and vice versa causing a diminution of volatility. The thing to watch for is persistance in the spread with regard to cash/futures during a move. That means in spite of the arb money flow is continuing in the direction of the spread. I hope that makes sense.

Not to be spiteful but what markets are you trading? Today's momentum was up. The S& P futures hit a low 3 pts below close Friday ( Just a weak probe down. Today was buy the dips all day)

Cumulative chart showing distribution.

Today certainly had a follow-through to the downside quality. Controlled selling.

Now you're talkin'. Say hello to my little friend---volatility.

Today was in a word WEIRD. Weird in that the NDX surged from yesterdays drop and evertything else was absolutely lackluster with more action on the bid than the ask. Holy Divergence Batman.

Interestingly I had given up on that gap getting filled but shazaam this afternoon some selling appeared. Volume appeared out of the thin pre-holiday air and stops got hit as volume came in. Usually happens when I hit the bathroom today it happened after I left for the day. Happy New Year

And that is the secret. Today was the pre-market and open gunning for the stops with the buy on the other side to scoop up the weak hands shares. Then squeeze everything else on the way up. Nice. Good luck and happy New Year. Done...

Nice whip down into close but not enough to fill yesterdays gap. Done....

We did the drift into 10 am and lunch then banged the close from yesterday but as hydro points out no one thus far is interested in selling. We'll see what the close brings on however.

Now that the low of day was made going into lunch further analysis shows additional weakness for today with the possibility of the gap getting filled from yesterday.

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Good point.

Just like today's trap em' at the HOD, MOC, then sell-off the accumulated positions after all the daily position swap completed. Perhaps. Good Luck

There is likely to be a pullback until 10am tommorrow or perhaps even lunch then a retrace to today's (high/close). JMHO

5% drop in the domestic indexes cometh Jan 07' is in the works say I.

Run-up for the New Year sell-off?