 |
Laissez Faire
Registered: Sep 2010
Posts: 4153 |
10-31-11 06:35 PM
Good observation, Picaso.
I`ve seen them diverge though and the last day of the month may be as good as any I guess.
What about the NYSE TICK?
How`s up/down volume looking?
To me, it simply looks like the probabilities of a sell-off from here are decreasing.
On a real weak day, one would like to see all the indices move in concert, right?
|
| |
|
Edit/Delete • Quote • Complain |
PACMAN1
Registered: May 2008
Posts: 285 |
10-31-11 06:37 PM
Quote from Laissez Faire:
That is certainly one possibility, but the more time we spend inside the opening range, the less likely it is that we continue selling.
NQ also put in a higher low on the break and never took out the morning lows.
NYSE TICK does not look particulary weak.
Last day of the month window dressing.
That said, we are still making lower highs like you said, so yeah, maybe. 
Looks like you are right.
|
| |
|
Edit/Delete • Quote • Complain |
Laissez Faire
Registered: Sep 2010
Posts: 4153 |
10-31-11 06:45 PM
Above:
Opening range high at 67,50.
S2 = 68,50.
Friday low/AH high = 72,75.
50% gap at 73,75.
S1 = 74,50.
Friday`s 50% = 78.
Pivot point = 79.
Gap fill = 81.
Friday high = 83,50.
R1 = 85,50.
Thursday high = 89,25.
|
| |
|
Edit/Delete • Quote • Complain |
macho grande
Registered: Aug 2010
Posts: 1103 |
10-31-11 06:47 PM
Quote from macho grande:
i'm thinking ~66 to cover my longs...just off top my head, and eyeballing the 5 min 
flat@ 1267
S 1267
yep, LF was right
ps EURO long covered, short spot 1.3947
|
| |
|
Edit/Delete • Quote • Complain |
Laissez Faire
Registered: Sep 2010
Posts: 4153 |
10-31-11 06:49 PM
A gap fill does not look like too much to ask by end of day.
Recent average RTH range is between 20-25.
Gap fill gives us a 14 point range.
That means we can easily trade up to Thursday`s highs and still be in line with the average range.
First we need to take out the morning highs though.
|
| |
|
Edit/Delete • Quote • Complain |
| Receive
an email whenever a new post is added to this thread by subscribing
to it. |
|
|
|
|
