As mentioned in our previous post, the key price hurdle for the bulls was to regain 1091’s which represented the 3-day midpoint and hold that ground…Neither happened. An early rally attempt on the bulls part found more than willing and albeit aggressive sellers. We counted eleven(11)Sell Programs within the Initial Balance period that prevented the bulls from further upside progress. When it became apparent that the bulls were losing, fresh new bear short sellers entered the fray only to force existing bulls into further liquidation by the end of the session. We’ve been highlighting that the Net Daily Delta has continued to be negative, and by Friday’s session settlement the cumulative count exceeded -500K, without even one positive day reading. Now that’s some selling.

The chart below is the PTG Balance Chart…It is our “Core Chart” that we use daily in the trading room. All the key levels an intra-day trader requires are dynamically calculated giving the serious trader key information upon which to make intelligent trading decisions.

If you are interested in learning how we integrate the Balance Chart with our Methodologies, you are invited to a FREE Two-Week Trial to the PTG Trading Room. Please visit our website at www.polaristradinggroup.com and fill out Free Trial Form.

Good Trading