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Intraday Action SPX

Started by SemiBizz , Aug 26 2008 09:37 AM

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11 replies to this topic

#1 SemiBizz

Volume Dynamics Specialist

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Posted 26 August 2008 - 09:37 AM

Here you can see how 1272 set up the creek, and the dramatic whooosh up and over it...

http://bigcharts.mar...&mocktick=1.gif

Here's another look at what's holding the SPX in this range... the 6/27 dominant candle in this price range....chart at link below...

http://www.traders-t...showtopic=92759

Edited by SemiBizz, 26 August 2008 - 09:40 AM.

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Volume is the only vote that matters... the ultimate sentiment poll.

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#2 SemiBizz

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Posted 26 August 2008 - 09:46 AM

Do not get caught long/short on the wrong side of 1275... it will RUIN your day.

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

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#3 OEXCHAOS

Mark S. Young

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Posted 26 August 2008 - 09:54 AM

Do not get caught long/short on the wrong side of 1275... it will RUIN your day.

127575ish is volume resistance on the futures too.

I'm Bearish, but not enough to short unless the 5' turns down.

Mark

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#4 eminimee

I don't care who's fur is flying...

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Posted 26 August 2008 - 09:56 AM

go play golf until 2pm

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#5 SemiBizz

Volume Dynamics Specialist

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Posted 26 August 2008 - 09:56 AM

Here's a closeup of the creek jump... as you can see, it came on stronger volume, pretty classic move... then notice the pullback on lighter volume off the high... Now to balance that out you have 3 min candle trend turning down off the high with 5 successive reds....

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

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#6 OEXCHAOS

Mark S. Young

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Posted 26 August 2008 - 10:13 AM

I'm seeing a spring. But I'm open to anything in this mess. M

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#7 SemiBizz

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Posted 26 August 2008 - 10:33 AM

I'm seeing a spring. But I'm open to anything in this mess.

M

This might give you another view... we're at the top of the hourly dominant candle on the SPX (note exceeded by a perfect ONE RED CENT) :lol:

...

So that's what is holding us down here.... As you can also see the decline off the highs was on bogus volume yesterday...

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

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#8 SemiBizz

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Posted 26 August 2008 - 10:36 AM

Now, to thoroughly confuse things, note that the low of the dominant candle on the hourly has not been tested, so if we head south, that's where it wants to go....

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

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#9 SemiBizz

Volume Dynamics Specialist

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23,217 posts

Posted 26 August 2008 - 10:43 AM

go play golf until 2pm

Tend to agree, we won't get a volume resolution in all likelihood now til the volume comes in after the fed notes... on the hourly chart above...

So, if we get volume and can break today's high in those last two candles, that sets up your upside... if we break the 1261, then down we go...

Now, all in the context of light volume on the daily, of course....

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