A Sublime Auction of Unparalleled Beauty

I love how the Nasdaq is behaving up here. Hopefully showing you this action in real time has you thinking about the markets more like an auction.

This morning we envisioned 2 ways today’s profile would shape up as the day progressed. Here it is again:

This morning we worked the orange profile (hypo 2 from this morning’s post) up through value and found responsive sellers on the top side of it. Per the Pelican Room (BTW nice work today Pelicanos) notes:

My day was essentially done at that point, but while eating a panini I took to Twitter to share the algorithmic Naz100 TICK occurrence that occurred and a way I have been trading it:

The trade actually gave you a scale and likely a scratch at worst if you managed the long. If I was to take the trade it would only be a scalp because the market had already completed my expected upside progress (hypo 2).

When the market continued lower and especially when it took out opening swing low you could tell the seller meant business but again buyers managed to make some smooth moving counter rotations.

Their attempt from a neutral stance was valiant, but when VPOC shifted back down to 4438 when encouraged sellers to finish their unsettled business by filling that dirty gap below. Good form sellers, good form indeed.

Just a tick below this gap buyers defended though it was all rather predictable and lovely.

This is also day 11 after PPT flagged oversold—another completed cycle and bulls may now reenter the city walls to a reasonable parade, fanfare and libations.

Late last night I was granted access to The Exodus beta. Nearly the entire cloud-mountain is mine to explore before the general population arrives. It is one of the most invigorating experiences of my entire life. All I can say is get excited people.

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