two possible scenarios...it could go down or up. =)
it doesn't take much to bring it down, its up to the bigboys. USD/JPY will head back to 120. The japanese housewives are very quick to rebound, with some BOJ help.
Different metrics of fear seem to be unwinding.
The old trends seem to be coming back in forex, dollar bearish. Oil headed back up.
So the question becomes, why did the market trend down most of the day? Was it some big funds unloading positions that they accumulated on the run up?
Or was it, new short positions being taken for a test of the lows. If it was a new position to test the lows, the market should have trended down after that transition point at 63. It would have been in the best interest of the morning bears to keep slamming it down. But yet they preserved it, for another day. They had the day nailed.
Price was propped up during asian session most of the night above 80, and only as US session neared, the bids were removed underneath exposing it to fall, a short position overnight was built up, and you could see it on the price action, whenever net new shorts built up, the stops were run multiple times.
It was blatantly obvious when price couldn't even manage to test 80 on the RTH open. This was all directed in advance to bring it down.
Now the question becomes, what will happen tommorrow, some reports out. Durable goods which has been known to move the market. If they wanted to take the market up, they would have moved the market up closer into the 70's. Yet its trading now at mid 60's. It seems to be a directed effort to smash it and test the lows again.
it doesn't take much to bring it down, its up to the bigboys. USD/JPY will head back to 120. The japanese housewives are very quick to rebound, with some BOJ help.
Different metrics of fear seem to be unwinding.
The old trends seem to be coming back in forex, dollar bearish. Oil headed back up.
So the question becomes, why did the market trend down most of the day? Was it some big funds unloading positions that they accumulated on the run up?
Or was it, new short positions being taken for a test of the lows. If it was a new position to test the lows, the market should have trended down after that transition point at 63. It would have been in the best interest of the morning bears to keep slamming it down. But yet they preserved it, for another day. They had the day nailed.
Price was propped up during asian session most of the night above 80, and only as US session neared, the bids were removed underneath exposing it to fall, a short position overnight was built up, and you could see it on the price action, whenever net new shorts built up, the stops were run multiple times.
It was blatantly obvious when price couldn't even manage to test 80 on the RTH open. This was all directed in advance to bring it down.
Now the question becomes, what will happen tommorrow, some reports out. Durable goods which has been known to move the market. If they wanted to take the market up, they would have moved the market up closer into the 70's. Yet its trading now at mid 60's. It seems to be a directed effort to smash it and test the lows again.
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