The behavior of the equity markets last week cleared up any uncertainty as to whether or not everyone was back to doing business. Volume increased in most instruments and move have increased in size and speed. Both the NASDAQ and the S&P have been chopping around which creates opportunistic conditions for day traders. These benign conditions have allowed individual pockets of momentum to make large runs too.
I spent the weekend building out a few new charts since Mirus futures and Ninja trader will not be working properly any time soon. The first chart is 30 minute candles of the S&P 500 via the /ES contract. I am using the 30 minute bars to simulate the TPOs of market profile. I am doing so with high quality tick data which produces a very accurate volume profile. In this chart we can clearly see the intermediate term balance occurring since 12/20. I have highlighted the low volume nodes of this chart, as I feel they present strong opportunities for traders to position their books and also observe sentiment:
Next I have made RTH volume profiles for the NASDAQ via the /NQ contract. These will assist me in observing the day session and who is asserting control of the tape. We can see price consolidating recently. The past four sessions have been “P, P, b, b” in structure. In other words, two short squeezes then two long liquidations, but neither time did the consolidation break. This is big players wrestling for control.
At the apex of this action is 3551.75. This price level has been the scene of many struggles between buyers and sellers and I will be using it as a pivot of sorts today. I have highlighted this level and my upside and downside targets on the following volume profile chart:
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unbelievable clowngrade of $CREE by Stifel dickcheese Nicolaus today. I can see the analyst Jeffrey looking down his nose as he attempts to write this nonsense but it’s out there and wanted you to be aware. happy trading
thanks, yes I saw it, these guys know when the charts are set up in their favor. I have my carbon fiber helmet on today
Can I ask you your average cost for CREE ? Thanks !
it is right around 50 bucks
“OMFG”, as DT would say..
“Liar, Liar pants on ((FIRE))..hangin from a telephone wire..” (song from the short lived childrens program, Big Comfy Couch)..Scalp(?) , my SWEET A$$..hahahh. Un freakin believable..really
hey do me a fave and tell your partner, Val, that I scooped some IDCC just a bit ago here:
Status Filled at $27.73
Description INTERDIGITAL INC PA
took profit in JOEZ here:
Status Filled at $1.2912
Description JOES JEANS INC COM
cannot stand BS^
sorry bout that..
Have a Great Evening all you Beautiful People!
Nailed weakest market in the world all by myself.. no need of talking heads.. blah blah..(Partridge)
Jan. 13 at 8:35 PM
(never made a dime from you)
Sooz, sometimes I cannot tell if you are mad at me, or someone else, or perhaps musing all on your own.
Never ((EVER)) mad at you, Sir Raul.
just using your forum to call out some azzwipes from years gone by!!