As we have seen so often this year that every deep pullback in price into Value finds renewed Responsive Buyers. As well, when price reaches upper extremes, buyers dry up and Sellers Respond. This action simply is Range Consolidation between … Continue reading
Last week’s “Island Reversal” High and subsequent swing lower remains within the overall context of a normal retracement pattern within the larger bull uptrend. Also of key importance is that price tested and remains above the “2014 WVAP”…at 1858…Each retracement … Continue reading
This week’s auction failure on retest of April 4th high reinforces that level as resistance. Yesterday’s sharp sell-off creates an “island top” type formation at the high end of multi-day range. The recent pattern has been to push higher creating … Continue reading
Short-Term Traders had high expectations that the April 4th high would be penetrated, setting up for an potential explosive move to 1900…BUT the “Other Time-Frame” (OTF) Trader did not play ball, as “Buyers Fizzled and Prices Drizzled” lower in a … Continue reading
The S&P notched yet another 30 handle “up sequence” past few sessions with a narrow range consolidation period yesterday with a Hi-Lo Range of just 6.75 handles…That is 7.50 handles below 5 day average of 14.25. Simply, the market is … Continue reading
The S&P’s Opening Gap pushed price higher in Monday’s session, with trend-day short covering characteristics, reaching our price targets of 1891 – 93 zone. Now comes the BIG TEST of the April 4th High and a probe for “buy-stops”. Will … Continue reading
As we noted last week; “price extremes on both edges, ranging from 1854.50 – 1884.75, with daily swings averaging 20 handles.” Looking at the 10-day profile, all those intra-day gyrations have formed a very large, potentially powerful “Balance Zone” between … Continue reading
This week has seen price extremes on both edges, ranging from 1854.50 – 1884.75 with daily swings averaging 20 handles. That’s enough to make any seasoned trader exhausted. Price continues to fail and get rejected above 1880 handle, so continue … Continue reading
Yesterday’s DTS stated: “Failure to hold support on any retest with increasing selling suggests a reassessment of bullish resolve; Violation of key support targets 1856.” Key support zone was 1859 – 62 which was violated forcing aggressive selling and stop … Continue reading
In yesterday’s DTS we opined that failure to penetrate PDH suggests further consolidation within multi-day value area, with possible test of key support zone between 1859 – 1862. That scenario played out as scripted, with progressive and increasing selling pressure … Continue reading