Big Move Up Imminent

Discussion in 'Index Futures' started by VisionTrader, Oct 7, 2005.

  1. I would say based on the volume action this week that a big move up is on the horizon.
  2. "On the horizon" eh? Keep those kind of predictions up and you may have your own investment letter one day.

  3. well fri day the nasdaq did not cross 2100 so i think it is going trend till it touch,s 2000 and may bounce back
  4. I was going to use the word "imminent" instead. You think it sounds better?

    Lots of low priced goods exchanged hands last week.
  5. Now let's see. The NAZ 100 failed to break last year's high, failed twice to even approach it, made a double top, and just broke out of the bottom of its recent range, but YOU think it's going up? Perverse as the markets are, you're probably right!
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  6. As old trader pointed out...the horizon can be near or far depending on where you are looking.
  7. I don't manually trade the indexes much anymore. I just posted this because it was an observation to generate a little weekend thought. It's pouring rain here in Maryland and I was gandering over my charts.

    I always keep an eye on volume, no matter which instrument I play. What I see across several of the indexes is a huge volume spike to the downside and then stabilization on high volume. This means that someone was buying down here and I suspect it was not us little boys.

    I ginned up this chart real quick of the QQQQ. Take a look at the arrows and look at the volume below. Many times, it will take some consolidation or a re-test of the lows before the market reverses. Many time it will never reverse so take it for what it is worth which is "just an observation"
  8. yes the institutions on thursday were buying numerous futures contracts and some equities to stop the fall as they were probably still not properly hedged for a major fall from thursdays lows. you can call it proactive institutional buying out of continual market liquidation concerns ---- thus we had a nice rally from the lows of thursday with the latter day push. all the program buying information that i look at pegged out at that point and only one group out there is capable of doing this in a huge selloff --> the institutions.

    all my remaining es shorts that i had held since friday of the previous week were immediately flattened at 1189.00 as we exploded off thursday LOD 1185.75. when all my buy program indications that i watch peg out, i will always flatten all position trade shorts i have. glad i did as the rally from the lows had a strong run {also when my buy program indications peg out like they did you have to get in long to see how far it will ride and that was an awesome ride --- tons of momentum}.

    only the institutions can put in a "V" bottom like we had thursday --- they have the liquidity and i can see they are very concerned. they "MADE" support tursday but they sure did NOT continue to buy on friday. i think they are still wondering what happened last week --- a lot of smoke was coming out of their adding machines with that kind of a week. i will bet they had people forced to work this weekend to measure and re-measure if they have everything cleaned up or hedged properly for this week ahead --- they know the history of octobers and they are not dumb.
  9. Many large and violent up moves are counter trend. Friday had no continuation , Mondays are usually strong so if there is an am gap can it hold or will it be sold into?

    Last week completed sells on the D W and Monthly. I am most interested in if we can close this Friday below last weeks lows.
  10. Macro, when you are referring to "institutions", who do you mean?

    Because in a sense, all market participants (mutual funds, hedge funds, WallStreet firms etc) other than retail investors, can be called "institutions", right?
    #10     Oct 9, 2005