Looking back at past seven days shows clearly via Volume Profile that price remains within a well defined range with a wide Value Area between 1648 – 1662. The balance point is 1655 (VTMP). Our Trade Strategy remains to sell … Continue reading
During the past five trading sessions price has traded with some wild swings…which has provided some decent opportunities. If you were to view price action from Volume Profile perspective, you’ll notice that distribution of activity has been fairly evenly spread … Continue reading
Yesterday’s market reaction to Fed Minutes was like being on a wild Roller Coaster Ride with no less than three +2 Standard Deviation (SD) moves down..up..and down to settle at low of day. Surely a wild ride for any trader’s … Continue reading
Tuesday’s Trade Strategy called for a “relief rally” of approximately 1%…Actual increase…+0.88%..not to shabby. It’s been said…”You are only as good as your last trade…”…I’m not sure of the author of that saying…but if we can take that as truth…then … Continue reading
S&P Index has been down four (4) consecutive sessions giving up approximately -3%, which can be classified as “normal” pullback. Past pullbacks of this magnitude have resulted in a “relief rally” of about 1%, so conditions are in place for … Continue reading
Selling has picked up momentum past few trading sessions and S&P is now below its 50 dma notching approximately -3% decline…So until price can recapture that average, hold and turn positive…any rally attempt is anticipated to be sold into by … Continue reading
Ten (10) days…-3%…and 50 handles lower since our call on 08.02.13 “Top Turn Date” with a near perfect Head and Shoulders topping formation now solidly confirmed. With options expiring today, price action may have a mind of its own…so our … Continue reading
Price action has been rangebound recently…We have stated in recent posts that this would continue until the balance of supply/demand shifts. Yesterday’s continued selling was first real evidence that this shift was gaining some momentum. Also, keep in mind that … Continue reading
It’s option expiry this week…In order to cause the most “pain” to both Call and Put owners would be to keep price locked within a relatively narrow range forcing decay in time premium. The upper and lower price boundaries that … Continue reading
In Monday’s Strategy we highlighted that the Globex low 1675.25 was a “critical marker” for potential support and that if held, then bulls could could price back to 1690 marker. “Globex low 1675.25 becomes a critical marker for potential support…IF … Continue reading