Posted by windyjazz on 24th of Aug 2011 at 01:43 pm
SPX still finding resistance at the SPX 60 downtrend line. That
line along with R1 was resistance on the morning push and again
now...so far. I'm thinking a move through this line with volume
would be a trigger to go long again. So far the volume on the SPY
very low today after 4+ hrs. Average volume because of high volumes
lately are now around 370 million. We are not even half way
there.
Posted by philosoraptor on 24th of Aug 2011 at 01:50 pm
Also, after a strong day in one direction like yesterday, price
often chops around the next - consider the intraday VWAP
(cyan/magenta dots) today. Yesterday, the bulls were in total
control with price remaining above the intraday VWAP all day -
today price is oscillating around the VWAP - neither side has
managed to gain 'control' yet...
$SPX 60
Posted by windyjazz on 24th of Aug 2011 at 01:43 pm
SPX still finding resistance at the SPX 60 downtrend line. That line along with R1 was resistance on the morning push and again now...so far. I'm thinking a move through this line with volume would be a trigger to go long again. So far the volume on the SPY very low today after 4+ hrs. Average volume because of high volumes lately are now around 370 million. We are not even half way there.
3rd reversal @ SPX 60
Posted by windyjazz on 24th of Aug 2011 at 02:32 pm
Market keeps trying to move through $SPX 60 downtrend line, but to no avail.
Also, after a strong day
Posted by philosoraptor on 24th of Aug 2011 at 01:50 pm
Also, after a strong day in one direction like yesterday, price often chops around the next - consider the intraday VWAP (cyan/magenta dots) today. Yesterday, the bulls were in total control with price remaining above the intraday VWAP all day - today price is oscillating around the VWAP - neither side has managed to gain 'control' yet...
philosoraptor - re: choppiness
Posted by chas on 24th of Aug 2011 at 02:05 pm
Yesterday someone said the same thing. Maybe it was you. I like that. I'll make a note of that.