WOW.....I take part of the day off and you guys FINALLY jam it up to the next delta zone 924-927's (fricken textbook Auction Market Theory move to the next resting inventory zone). :eek: As we blasted up through the 912/913 area my last held short positions stopped out at b/e +1 tick and I did not get into the selling of the 924-927's zone. I will have to be ready to play Sunday evening when the globex opens and then into the EU open early a.m. Monday. Once we charged that 911-914 zone again today, on VERY strong initiated buying, the writting was on the wall imo and short holders from that zone on up to 924-927's bailed for the day. Now we will have to see what Sunday night/Monday a.m. brings with the EU session open........Monday looks to be set up for some fun.
good analysis... also important to know that this is the one day a year there is re-balancing of a number of indexes - Russell and others... plus end of month window dressing.. on last trading day of May... so its usually bonkers.. on this day... we had a normal distribution day going the whole day until the last 8 minutes... then boom...
Did you dump your prior holdings from this area or are you looking to aggressively add to them? that move was ridiculous. Hoping this zone can make a stand!
Yes sir......that was "full tilt" initiated buying (with lots of short covering) right up to the next zone. The delta shows perfectly how buyers had full 100% control of the order flow all the way up to price hitting the 922/923 area as the cash session ended......previous sellers 927's and below just gave up and bailed today. :eek:
Yes....this is not abnormal for a re-balancing day with price near such important zones of resting inventory.
http://www.elitetrader.com/vb/attachment.php?s=&postid=2441398 I'm beginning to think there might be something to this cumlative delta after all.
No......all flat with no ES held inventory as my last 912/913 entries stopped out near b/e on the jam move through that lower zone. I will look to be a seller of the vacumn we have been left with, after the EU session opens and I see how their trading flows. If we can work our way up to the 925 area Sunday night I will take a look and see what I have to work with.
Yes that LONG divergence signal on the last run to the 877's area was pivotal. That was a strong divergence buy signal and buyers from that lower zone have carried their inventory now right back up to the 924-927's zone......the bulls scored on that move!