Tape today...wow

Today was the last day of the month and quarter, so the hedge funds want their gains to hold up to maximize their performance. In addition, a lot economic data will be released on Thursday and Friday. There was not really much of a chance of the market making a sizable move down with these data points pending. The dips lately have been small and are best called noise. If we get bad numbers the next two days then we'll see what happens since we had weak data the last few days. Don't let your opinion of value get in the way of your trading.

Here's a link to the economic calendar.

http://biz.yahoo.com/c/e.html
 
Quote from swtrader:

the vix seeming to have bottomed at signifigant spx/indu technical resistence was part of my case for my 'top' calling' thread

the breast is definately starting to rattle it's cage
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EXACTLY great call. That candle wasn't meaningless.
 
Quote from scriabinop23:

Volatility?

Pardon me, but the S&P futs moved from 1060 to 1042 for the entire day range. And the bulk of that before the actual open. A little over a 1% move. That is muted volatility. There are no extremes here.
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Sounds good chief. Then you're blind as a bat.
 
Quote from CET:

Today was the last day of the month and quarter, so the hedge funds want their gains to hold up to maximize their performance. In addition, a lot economic data will be released on Thursday and Friday. There was not really much of a chance of the market making a sizable move down with these data points pending. The dips lately have been small and are best called noise. If we get bad numbers the next two days then we'll see what happens since we had weak data the last few days. Don't let your opinion of value get in the way of your trading.

Here's a link to the economic calendar.

http://biz.yahoo.com/c/e.html
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There's more to it than that.
 
Quote from athlonmank8:

Sounds good chief. Then you're blind as a bat.
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I'm just saying how about some context ... 10% moves last year is high volatility. This is slightly elevated in comparison, even today's 2%.
 
Quote from athlonmank8:

Much like the tape of '07s extremes.

Volatility and intra-day swings are very indicative of a top similar to what we saw.

Thinking we're close to "that point"....again.

Would I say the top is in....yes if not very near.

The oct. effect along with two cycle cross dates (one coming late) would indicate this could be it.

Resistance on the other hand was expected to come from the gap fill which we haven't seen yet....so it's not 100%
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Looking like the market may want that gap fill regardless. Gold gonna be hot for a while then.

A little O/T but ooks like corn bottomed as well.

GDX, ABX
 
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