In yesterday’s DTS we stated that odds were relatively low (60%) of converting prior session’s high at 1976.25…An early attempt to penetrate was met by stronger responsive sellers, which setup an “auction failure”…Another failed attempt at the Open Range Rotation … Continue reading
S&P e-mini pulled back to key weekly Point of Control (1958 handle) yesterday where responsive buyers stepped-in, absorbing all contracts supplied. We continue to observe repeated pattern of pullbacks testing support zones, then price pushing back higher to top end … Continue reading
Monday’s Session could possibly have been the narrowest range of the year, though I do not have statistics confirming…but boy it was slow. Corporate earning releases have begun to flow and we have opined that money managers are less likely … Continue reading
“Trade What You Know….Verify What You See” This is what Polaris Trading Group instills in each of our member traders daily…It is based upon a solid knowledge base of understanding the market auction process and applying proven trading principles, based … Continue reading
S&P came roaring back from a deep deficit early in session on fears of increasing problems in Portugal (PIGS) to close the session in upper 25% quartile of the days range…Although the Bull is quite resilient buying the fast sell … Continue reading
S&P 500 e-mini (ES) is down 17+ handles in overnight action on a delayed reaction to release of Fed Minutes which confirmed the end to its bond-buying program in October. The plan will decrease bond purchases in three increments until October, … Continue reading
Markets followed through to the downside yesterday in an orderly fashion equal in magnitude to prior 3-day “symmetrical pullback”. The intermediate and long-term uptrend remain firmly intact, so although pullbacks are expected and even welcome to work off buying excesses, … Continue reading
In Monday’s Session price pulled back about 10 handles (think 10 Handle Rule) in an orderly fashion as was laid out in DTS Scenario 2 : “Failure to attractive new buying above 1978.25 (Key Resistance) suggests the need to auction … Continue reading
As America celebrated it’s birth this past weekend all across this great Country, investors/traders are partying like it’s 1999…at least those in the Hamptons. From reports I have received, with new highs in the indexes, the financial crisis is a … Continue reading
Happy Birthday to All Americans and to the Freedoms the Fourth of July Holiday represents. Yesterday’s trade was exactly as scripted in prior DTS…“expectation of consolidation range trade developing.” Today is a shortened session and as such, volumes are expected … Continue reading