Edited by SemiBizz, 05 May 2008 - 01:15 PM.
Regarding that 20K contract blip in ES Futures @ 1400
Started by
SemiBizz
, May 05 2008 01:05 PM
13 replies to this topic
#1
SemiBizz
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Posted 05 May 2008 - 01:05 PM
I mentioned last nite, that was testing. What you can see here is a big break at 1400 in the ES futures as we get under the 1400 @20K contracts on much stronger volume... I don't track them so they may have already hit it.
The outlook for a test during an intraday session of last nite's session is "test low on stronger volume"
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Richard Wyckoff - "Whenever you find hope or fear warping judgment, close out your position"
Volume is the only vote that matters... the ultimate sentiment poll.
http://twitter.com/VolumeDynamics http://parler.com/Volumedynamics
#2
OEXCHAOS
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Mark S. Young
Posted 05 May 2008 - 01:23 PM
So far, it's test on lower volume than than this morning.
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#3
SemiBizz
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Posted 05 May 2008 - 01:26 PM
So far, it's test on lower volume than than this morning.
was THE low(last nite's 20K blip) tested?
Edited by SemiBizz, 05 May 2008 - 01:27 PM.
Price and Volume Forensics Specialist
Richard Wyckoff - "Whenever you find hope or fear warping judgment, close out your position"
Volume is the only vote that matters... the ultimate sentiment poll.
http://twitter.com/VolumeDynamics http://parler.com/Volumedynamics
Richard Wyckoff - "Whenever you find hope or fear warping judgment, close out your position"
Volume is the only vote that matters... the ultimate sentiment poll.
http://twitter.com/VolumeDynamics http://parler.com/Volumedynamics
#4
SemiBizz
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Posted 05 May 2008 - 01:32 PM
I haven't seen the chart today, but I did look at it yesterday, there's work to be done 1385-93 area is going to be tested. (5 day chart)
See what you think Mark.
Price and Volume Forensics Specialist
Richard Wyckoff - "Whenever you find hope or fear warping judgment, close out your position"
Volume is the only vote that matters... the ultimate sentiment poll.
http://twitter.com/VolumeDynamics http://parler.com/Volumedynamics
Richard Wyckoff - "Whenever you find hope or fear warping judgment, close out your position"
Volume is the only vote that matters... the ultimate sentiment poll.
http://twitter.com/VolumeDynamics http://parler.com/Volumedynamics
#5
arbman
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Posted 05 May 2008 - 01:53 PM
It looks like 1390 area is the target in the LAST HOUR (!), I think it will sell, slipping below 1390 will be very difficult ahead of the expirations though just like moving beyond 1420s...
#6
SemiBizz
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Posted 05 May 2008 - 01:53 PM
OK, the chart I just looked at shows the low on that 20K contract dump at 1402 area...
We haven't tested it yet.
Possible trigger.
Price and Volume Forensics Specialist
Richard Wyckoff - "Whenever you find hope or fear warping judgment, close out your position"
Volume is the only vote that matters... the ultimate sentiment poll.
http://twitter.com/VolumeDynamics http://parler.com/Volumedynamics
Richard Wyckoff - "Whenever you find hope or fear warping judgment, close out your position"
Volume is the only vote that matters... the ultimate sentiment poll.
http://twitter.com/VolumeDynamics http://parler.com/Volumedynamics
#7
arbman
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#8
SemiBizz
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Posted 05 May 2008 - 02:58 PM
That's how they start off a top, modestly, then gap down on volume...
http://bigcharts.mar...&mocktick=1.gif
http://bigcharts.mar...&mocktick=1.gif
Price and Volume Forensics Specialist
Richard Wyckoff - "Whenever you find hope or fear warping judgment, close out your position"
Volume is the only vote that matters... the ultimate sentiment poll.
http://twitter.com/VolumeDynamics http://parler.com/Volumedynamics
Richard Wyckoff - "Whenever you find hope or fear warping judgment, close out your position"
Volume is the only vote that matters... the ultimate sentiment poll.
http://twitter.com/VolumeDynamics http://parler.com/Volumedynamics
#9
arbman
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Posted 05 May 2008 - 03:19 PM
I hedged some OEX put spreads I bought on Fri with ES futures at 1407.5 a bit, it could gap up to ES 1411-1412 or so, perhaps it will try it overnight and fail. The market should've already started a decline and it didn't, tomorrow should finally resolve to the downside, if there will be any downside this week...
Edited by arbman, 05 May 2008 - 03:26 PM.
#10
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Mark S. Young
Posted 05 May 2008 - 08:10 PM
I haven't seen the chart today, but I did look at it yesterday, there's work to be done 1385-93 area is going to be tested. (5 day chart)
See what you think Mark.
Well, first, it has to break through 140400-140500. Clearly 1405 is important. The low volume pullback looks more bullish than bearish. The 1400 blip looks like a non-event volume-wise to my eye.
I'd say that it's better than even odds that we trade higher before we trade down to 138500, but we know that's a target if an when it does turn.
If it happens on rising volume, maybe we camp out, if it does it on lower volume, it's probably a buy, given the sentiment.
Mark
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