Technical Clues from Today's Abbreviated Holiday Trading

Discussion in 'Technical Analysis' started by UrmaBlume, Sep 7, 2009.

  1. Today's abbreviated holiday trading may have revealed something about commercial sentiment for the rest of the week.

    Here is a cut and past of a Daily Market Report for today's holiday trading:

    Today's Market Report - ES - 09/07/2009
    Archive of Daily Market Reorts
    (Please Scroll Down to See Today's Entire Report)

    Today's Numbers

    Labor Day - No Secheduled Releases


    At 0430 PST Price, in Holiday Trading, found buying at 1,013.00 and just under 1,015.00
    Price continued UP and endountered Resistance at the 1,019.75 level as shown in the chart below.

    The HUD reflects this buying and the much lower than normal Holiday Volume


    HUD reflects some buying and very low volume


    There was continued Buying throughout this abbreviated Holiday Session
    This next chart shows the buying and also a zone of consolidation and
    NNT which gave an EARLY signal of the breakout up


    This show shows the period of consolidation shown above as well as 2 small
    Intensity Sell Spikes that signaled a couple of local highs