Technical case for the top being in?

I don't suppose anybody here knows the reason why <b>volume</b> has dropped off markedly today - especially NYSE?

pay$

If not. . .my end-of-day report should give the indication.

 

I`ve got buddies who are on the CME floor and systems traders all over the place. And nobody can give me a good reason why volume sucks today. Guess its just good ol inactivity???

 

It's just the HAL9000's trading today. All the HFT shops selling back and forth to each other.

 

- as good a reason as any, I suppose.

p$

 

selling has paused, and the market is drifting higher before it resumes?

 

I`d say more non-believers who will have missed this buying opp.

See, we can make it whatever suits our book.

The result is to be determined. And i`ll be the first to say "good call" if its yours to be had.

 

Sellers are WAITING for price improvement.....they just killed it will fills all the way down to 1012's (+ 60 point targets for those holding SHORT inventory from 1072.25 on up...."Commercial" for instance). Now they sit back and will let price move higher waiting for the price improvement to sell this market again. Today we had light volume buy program activity in equities whiched forced SHORT covering in futures (driving out the late futures side sellers in the sell-off move from last week).

If you have payed any attention and noticed the past few weeks...the only way the market is rallying now is on equities buy program forced SHORT covering in futures. There has been minimal participation for the BUY side in futures if you track the Delta Volume distributions past weeks.

 

did todays action still hold for shorting?? i am waiting to get in on some shorts..

 

Bump..

This thread alive or dead SW?

 

the call that I made from this thread(when the monthly bar closed above it, was busted the day that there was a new daily closing high

technically, this thread which was a question marke, rather than a 'call', is not 'busted', becasue the market still has not closed above the 20 month ma (monthly bar)

but I havent crowed about it, because so high above the new 20 month ma of 1052, and half the month to go before the monthly bar closes, it can do about anything before the end of the month, still close below the 20 month, be technically correct, but have been almost impossible to have entered. I'm not saying that WILL happen, I'm saying it could

if you look at the chart at the beginning of the thread, that has not normally been the case

I dont regret, nor do i have any shame for patiently waiting for this spike to run through 3 years of bubble space in 7 months, before attemping to speculate where final resistance would be

but so far, this spike literally is like no other in history