That's the plan.
If 990 acts as support after touching 994-995, I do think new high on daily is possible.
ES Journal Archive (2009 - 2010)
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That's the plan.
If 990 acts as support after touching 994-995, I do think new high on daily is possible.
I am looking at the time and sales data for the big caps and the indices. Something odd in the way it acts.
Wonder if anyone has the CME liquidity bank data to compare?!
Quote from JSSPMK:
Classic updrift into previous support & BAM!!!
What do you think?
Tomorrow open will be interesting to watch for sure. =D
I posted that and you misunderstand.
Big money are out of US equities totally.
Some are net short since high 900s.
The buying is purely market "making" activities to mess with traders who cannot hold overnight or longer term positions.
It is easier to understand if you think of the game as no limit poker and one of the party keep pulling up 10x whatever the table pot total is, asking people to call or fold. And somehow the host allows that, at the same time praising the action as a stablizing force to the game. =)
First off , thanks for for replying to my post constructively, I did pick up on the point that the buying would be largely due to taking out the smaller fish holding positions with tight stops or cannot afford to hold a short position as long as they would like.
Your comparisson to a high stakes, no limit poker game is very true, your analagy is clevar.
I have been following this thread for some time now in hopes of being able to hone my perception of the market and one day my predictions may sync with some of the more fluent minds here.
Good trading to all!
Big money are out of US equities totally.
Some are net short since high 900s.
The buying is purely market "making" activities to mess with traders who cannot hold overnight or longer term positions.
It is easier to understand if you think of the game as no limit poker and one of the party keep pulling up 10x whatever the table pot total is, asking people to call or fold. And somehow the host allows that, at the same time praising the action as a stablizing force to the game. =)
First off , thanks for for replying to my post constructively, I did pick up on the point that the buying would be largely due to taking out the smaller fish holding positions with tight stops or cannot afford to hold a short position as long as they would like.
Your comparisson to a high stakes, no limit poker game is very true, your analagy is clevar.
I have been following this thread for some time now in hopes of being able to hone my perception of the market and one day my predictions may sync with some of the more fluent minds here.
Good trading to all!
I thought it was interesting looking at post market headlines discussing the "reason" the market sold off so hard, ie japan slow growth, rally scepticism, concerns about global growth, blah, blah. The narrative fallacy playing out, causation and correlation are dangerous terms, ask LTCM. More initiative selling than buying.
http://www.charthub.com/images/2009/08/17/Footprint__Delta_Profile
LTCM just because it's August?
I was referring to the fact that correlation analysis can be dangerous
to the health of your trading account. It was only a month ago that China sold off 5% while the US equities market rallied so the global correlation did not hold. It did yesterday and there was no real reason to me news wise outside of weak #'s out of Japan nothing new there.
http://www.assetcorrelation.com/user/countries/90
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