ES 092612

The market has come back to reality after the FOMC sugar high. At least now the market can start to build some proper structure and I can clear some of the lines off my charts. As I wrote in retracements and measured moves a move to 1500 can still happen after a 50% retrace: I…

ES 092512

Yesterday found support at long term HVN 46 (see template). Bounce at NVPOC and Gap and too much Resistance at multi day close area HVN 1453. Support today: ONPOC 1453, failing that 1450.75 ONLO/VAL, 1449 Yday VPOC. Resistance: 3 x vpoc at 1457, LVN 1458, then possible 1462 Composite

092412

Fridays sell off was severe. The white/black boxes at the bottom are above/below average volume days. The VB (ask vs bid delta) was a large red doji with a wick at the top and solid at the base , indicating that sellers prevailed and any bidders got aggressively hit. In the final 3 days of…

Broken Markets

I am going to call this algo fooprint the pagoda pattern – bots searching for stops without fully committing. “Bewildered by ‘casino capitalism’? Stunned by waterfall declines in individual stocks – not to mention the entire market – that reverse in the space of an hour or two? Perplexed by the evident schizophrenia in traders’…

Retracements and Measured Moves

First some notes on the Euro which looks like it might pull back from here, comments under charts: You have to respect the measured moves on ES – Some MM’s and retracements: NOTE: the retracements got shallower and shallower. Price broke outside of trend line. I am watching for another measured move using the last…