2:10 PM CT - I've added the Market Delta nautical chart inward a higher house to demo how nosotros are edifice book at lower cost levels during the afternoon, accepting value below the day's VWAP. As long every bit that remains the case, I'd live on looking for an eventual exam of the Th lows. I lead hold a small-scale pioneer brusque seat inward the S&P that I'll live on blogging nearly later.
The bulls but aren't feelin' it. I demo that we've made nearly thou novel 20-day highs across the NYSE, NASDAQ, in addition to ASE on a hateful solar daytime where ES (chart above) moved to marginal bull highs. The rally but keeps thinning out inward damage of participation: non-confirmations, from emerging markets to commodities, proceed to abound.
We sold off sharply next the early on forcefulness and, since then, book at the marketplace seat bid (bottom histogram) has swamped book at the offer. We've too moved convincingly below VWAP (red line) in addition to the book bulge some 1030 (side histogram).
This sets us upward inward a real distinctive attain betwixt the lows that nosotros rejected yesterday in addition to the highs that we've rejected today. The weakening participation concerns me; I'm a seller on forcefulness every bit long every bit bounces cannot take/keep us inward a higher house VWAP in addition to that 1030 level.
.
No comments:
Post a Comment