Actually, that's not quite what I meant. Once the report was issued, price dropped on heavy volume. It then recovered on lighter volume, then resumed its fall until it hit support. At that point, volume was lighter than the first drop, suggesting that selling was exhausted. Price also formed a hammer. Though perhaps that's what you mean by "rhythm".
Yes I noticed that too... the so called "failed bear flag" after the initial thrust down at 8:30. It definitely accounts for the beginning of the move up.
I suspected that you this would be your reply.. and you are right, I was just using the term for illustrative purposes. Price volume and time only, I agree. Just was too lazy to describe the price dynamics in my post so I used the slogan word "bear flag"...
Understood. Someone else, however, was looking at a bull flag, which is why I never look at pattern, just price, volume, and S/R.
the record is >1M. The huge volume is a great percentage due to the rolling occurring in the big Spooz right now which also reflects into the EMinis front mo.
Huh? Most of the rolling happens next Thursday. To the person that initiated this thread, the runup was obvious to me. The selloff was totally unexpected, certainly the time span between the runup and the rundown. I could not believe my eyes. There are forces at play here (at 1150 ish) that are at the foundation of all this trading. It is easy to say that shorts are in control when spoos reach 1165 or so, and that longs are in control when spoos reach 1135 or so, but knowing why is worth $25,000 per contract when either of those break when the elephant sits on the one side or the other of the teeter-totter. nitro
I wish I was a day trader today. What a nice day of movement. Shake out my long term buy and went higher