Trading/TA Question

Discussion in 'Trading' started by retire45, Aug 5, 2009.

  1. Please look at the attached NQ Tick chart from yesterday and today's trading... Besides SP500 touching 1007 (NQ 1632 equivalent apparently) is there anything else that would have given a hint of the strength of the ensuing downdrafts from these breaks?? Today's traveled through 3 price levels easily!! I took both trades but took less than 1/3 of the ultimate trip. For so long recently I have taken these only for them to not travel as far as these.. And there was no news event today either.

    I know I could simply take all trades and be done with it but anything other clues out there??
  2. This question clearly seeks reward without risk.. Just keep a runner..
  3. There was news today...BIG NEWS.

    The Treasury Quarterly Refunding Announcement around 9am est and it got hyped for about 40mins afterwards and about an hour prior.

    That puts the price action reaction window between 9:00am - 9:40am est.

    Now take a look at the peak of that price action and compare it to yesterday's price action peak...

    See anything familiar?

    A closer look, yesterday's price action between 1:00pm - 1:05pm est had a s/r zone of 1632.50 - 1629.75 while today's price action high in reaction to the treasury refunding announcement was 1631.25 peaked within yesterday's s/r zone...a zone yesterday that resulted in a key change in supply/demand.

    Also, I do remember many financial networks and trader talk that today's treasury refunding announcement was something that needs to be watched closely because "it will" impact the overall markets.

    Maybe it was odd too that yields hit a key resistance area (getting bearish) around 9am est and that treasury futures was bouncing off a key support area (getting bullish) around the same time.

    What about yesterday's sell off around 1:05pm est (any clues)?

    Oil was the talk of the town yesterday especially around 1pm est when I saw more trader talk about that it had peaked.

    Oil than sold off and Gold immediately followed (those two like each other enough that they follow each other when one or the other are being hyped).

    Simply, we gotta pay attention to what's being hyped and when it's being hyped in other key markets (ex. Oil, Gold, Treasuries et cetera) because the Eminis are impacted by what's going on in other markets.

    Intermarket Analysis is not what it use to be. :mad:

  4. Always something... so keep the runner in case the something turns to be something...

  5. A "wedge" preceded each breakdown. :)
  6. Happened again this morning.. this time the wedge wasn't quite as defined... Guess what?? missed the whole trade this time.. don't ask.. either not THAT ready to trade that early or something...

    See attached... Think I will review these and others every Morning....

    I think overall markets just got tired and they choose whenever they very well please to do so.