I wasn't talking about TZA. Alsha posted this on ETF-corner:
That was the weirdest selloff I've seen in a while.. market depth on SPY showed a large buyer consistently below the market buying 80,000 to 500,000 shares a tick into a price collapse, absorbing all the selling pressure without causing a severe adverse movement in price.
This was done in two controlled spurts to create the illusion of a momentum divergence on a small time frame, causing all day traders who caught this move to pull out for fear of being eaten alive by a buy program..
As order flow of short covering comes in, a bit more of a push from this buyer this time close to the market causes a huge bullish candle, and voila, the sell off has been averted.
Be careful if you remain short this market. This is not a normal market…
Either a sell off or rally is coming next week… that seems to be a given, but which one has better odds? The crooked government with the keys to the printing press, or the TA's charts and patterns?
I wasn't talking about TZA. Alsha posted this on ETF-corner:
That was the weirdest selloff I've seen in a while.. market depth on SPY showed a large buyer consistently below the market buying 80,000 to 500,000 shares a tick into a price collapse, absorbing all the selling pressure without causing a severe adverse movement in price.
This was done in two controlled spurts to create the illusion of a momentum divergence on a small time frame, causing all day traders who caught this move to pull out for fear of being eaten alive by a buy program..
As order flow of short covering comes in, a bit more of a push from this buyer this time close to the market causes a huge bullish candle, and voila, the sell off has been averted.
Be careful if you remain short this market. This is not a normal market…
when you click the hyperlink to view the picture you can select All Sizes at the top of the picture and it will blow up the picture
both containment pts. are in the upper 169's
Monica, I was kidding Earl. there was not a 20k order on tza.
Sundancer, Thanks for the info. It is hard to read your charts due to size. What is the price at that point? It look like it is sitting on them now.
GS daily containment setup
http://www.flickr.com/photos/47091634@N04/44793…
it's currently sitting on it's 2 most important containment pts. from the past 4 months. Grey & Purple.
the market will crack when GS takes out it's grey & purple containment
Carl at day’s end:
1155-1166 estimate for today (11 points)
1161.25 -1170.50 actual today (9.25 points)
Today’s range was 4-6 points higher than Carl’s.
Trades:
In /ES at 1166.25, sold at 1164.25 today. (loss of 2 points)
Grade: D (lost some money)
SPY hit max contianment on the 60 min during the afternoon low which is hit #5, the dam isn't going to hold much longer
given the IYR setup, it looks like more sideways to slightly up tomorrow, unless we get a monster gap down
aaaaaaaaaaaaaaaaaaaaaaaaahhhhhhhhhhhhhhh!
Either a sell off or rally is coming next week… that seems to be a given, but which one has better odds? The crooked government with the keys to the printing press, or the TA's charts and patterns?
It also closed at the low today