7 replies to this topic

[SemiBizz]

Well, here's a couple charts that says it all.  It's been 2 months since the last day of EXTREME VOLUME in the markets on 03/18/16 - OPEX.  We can define support and resistance by the highs and lows of those days... for example:

 

SPX 03/18/16

 

High - 2052.36

Low. - 2041.16

 

Friday's Close - 2052.32

 

 

 

 

NAS 03/18/16

 

High - 4804.58

Low. - 4772.41

 

Friday's Close  4769.56

 

 

 

 

 

Basically we can define what's going on in the market by these constraints, as you can see the SPX is on the verge of breaking up, and Nasdaq closed under support.  There is an ongoing battle between these two indices, and some days we have mixed with one up and the other down.  This is by no means any kind of a strong market, neither bear or bull.  Until the volume returns it's going to be sideways until proven otherwise...

Edited by SemiBizz, 21 May 2016 - 01:36 PM.

[merciless]

Semi where do you get your volume data from now?

[SemiBizz]

Semi where do you get your volume data from now?

 

I use a variety of sources, Bloomberg, Yahoo, StreetSmart, Active Trader, I use a lot of different sources and sometimes they don't all agree, but over time you learn to rely on the ones that give you the correct answers...  For RUT I use Bloomberg.

Edited by SemiBizz, 21 May 2016 - 01:56 PM.

[SemiBizz]

 

 

NAS 03/18/16

 

High - 4804.58

Low. - 4772.41

 

Friday's Close  4769.56

 

 

 

 

 

Basically we can define what's going on in the market by these constraints, as you can see the SPX is on the verge of breaking up, and Nasdaq closed under support.  There is an ongoing battle between these two indices, and some days we have mixed with one up and the other down.  This is by no means any kind of a strong market, neither bear or bull.  Until the volume returns it's going to be sideways until proven otherwise...

 

Observations:

 

1) Note price behavior in the trading range between the two horizontal lines... How many LRODs (Large Range Outside Days) do you see there?

 

2) Note the number of days traded in this range, not many...

 

add that together now and you can see just about anything happen once in the range...it is a TOXIC ZONE.

 

We could very easily open on a gap over the trading range,

 

Finally notice the 2nd highest volume body of the candle at the end of April... in the trading range.

 

And look... since then we have 2 higher lows trying to break that volume resistance, why is this time going to be different?

Edited by SemiBizz, 22 May 2016 - 12:54 PM.

[SemiBizz]

The battle continues... almost Noon ET

 

Nasdaq - 4772

 

SPX  - 2049

[SemiBizz]

40 min remain, no movement

 

NAS - 4771

 

SPX - 2050

 

Body language leaning south...

 

No volume ...

[SemiBizz]

 03/18/16

 

 

 

 

 

 

 

 

NAS 4772

 

SPX 2050

 

18 min remain...

 

Which side of support/resistance will this finish on now?

 

I hope everyone got the point here about volume and how it shapes the market...

 

Over and out....

[SemiBizz]

We could very easily open on a gap over the trading range,

 

 

So yesterday they couldn't get over the resistance zones the honest way, so they had to go the criminal route in the futures overnight... Now we see if crime pays....