agreed. topping off at the 50sma on the hourly while making higher lows on the 15min. Just a matter of time before it breaks the 50sma hourly and heads higher. A lot of waiting going on. Insignificant at this point Federal budget balance numbers coming out at 2pm est.
increased volatility swings both ways, I hope some of the retail guys are lowering contract size, they will get eaten alive in this vol.
Volume is too low to sustain any up move atm. We need to see this increase substantially, or we'll get a bull trap into EOD.
MAV's on volume work well to gauge this joneog. Currently at 46.00 it's still too low for a bullish close. We need to see increasing volume soon.
This 47.50-50 area has been big the last couple of days. btw, I'm expecting a rally solely because I closed out my put-spread I use mostly constant tic charts so volume is kind of baked in.
08-10-11 01:02 PM Quote from JSHINV: Just hope upside happens before my stop is hit - may very well will be hit. But, you want to play you got to pay. Also, I think 60 will take much longer than 50. I think we will see 50 soon and then 60 a good while after that. ________________________________________________________ There is the 50. Lets see if 60 is very quick or if it takes a bit.