Sellers gained quite a bit of confidence yesterday. The day started with responsive selling into the overnight strength which morphed into initiating selling for the rest of the day. The session ended up printing a new swing low and solidified the seller control on the intermediate term timeframe.
The long term timeframe is still buyer controlled in the NASDAQ composite even through this selling. This can be seen as a series of higher highs and lows on the weekly chart. We are watching the market follow through this week on an outside candle print two weeks back. The outside candle print often occurs near inflection points.
The intermediate term is seller controlled. I had to rebuild my volume profile back to November 25th to get all the data needed for a proper composite profile representation. I have highlighted some key levels and observations on the following intermediate term volume profile chart:
The short term auction is seller controlled. Value is being pushed lower and prices are testing lower into areas of unfinished business (naked VPOCs). I have highlighted the key levels I will be watching today, as well as a few scenarios on the following market profile chart:
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PACIFIC ETHANOL was a nice buy Price: $13.77
WESTPORT INNOVATIONS
Price: $13.93
Go buy some Aluminum and tell them Soozy sent you..
Timing is everything in ‘LIFE’..
Have a great day all you Beautiful People
Come on People now..
😉
http://youtu.be/o4fWN6VvgKQ
ARO (dbl) here(careful..it could go to a penny)..
throwing $$ into the pits of h#ll, yup!
Filled at $4.74
TBT is sucking ‘The Big Wazoo’
(position still green..believe or not.. by practically pennies)
would like to add but..NOOooooooo.
I’ve choosen to add to other dudes instead..
scratch an ‘O’ off that Chosen..ok?
should read ‘Duds’…as well
yea..
END..making a move here
*hold position