Why 1 hour delayed? Isn't the 9:55 low timely? When's the next low-period range expected then? 2-3pm?
917.00 was R2 for RTH floor trader pivots. I look for any price print within 3 ticks of R2 (stop 1.25 points above pivot) but only ever feel confident for 3 to 5 pts on retracement (price has already done that). but move down to 912-908 area would be natural (chart-read) high print has been 916.75. ADU or not , delayed ADU or not, mid-day consolidation (small retracement ) very common, but should be limited. low volume a wild card. Pek, if you are calling this a delayed ADU due to the early RTH retrenchment, then would expect intraday retrenchment to end between 2:00 and 3:00? Very peculiar to me how often intraday prices forge a trend at 1:30 (or near 1:30pm) NYC time. just look back over the past few weeks. ANy guesses as to why 1:30pm? (I have no idea)
The first little top occured at 11 am (instead of 10), but probably 90 minutes delay would be more accurate. So far it really doesn't go by the timeline at all, delay or no delay...
Eh, I thought a 10am was the low point I expected 910 at least when I went short, now I just don't know...
The 10:30 crew is a rule for some and too vague for others. But if you combine it with reports, pivots or even weak or strong momentum it reinforces the idea that it actually works. So it did work today! Meta stock puts out a decent momentum indicator program. If you used its current settings it would have shown you that the 10:30 momentum readings on the 1mn and 5mn were pointing up.
One thing to keep in mind is that beginning of year many fund have to adjust their portfolios. Thus the buying we see so far today. MMs would not lower their offer as they stick their necks out last year holding onto their inventories for this. When that ends, normal mkt action will resume. Edit: When will this end? I don't know. Where will it stop (target price)? I don't know either. Bears - sorry can't help
Hey dude, whatever you want to believe in, let's listen to some Talking Heads!: Facts are simple and facts are straight Facts are lazy and facts are late Facts all come with points of view Facts dont do what I want them to Here is a diagram for shortsellers how to avoid being gored by the bull: