Yes, after a stop run exceeding today's low. It's the same
pattern as on the third day of February of 2014. It would establish
positive divergence on daily charts, which is not there yet, via
rsi(5). I am looking at S1 (for today) of 1088 as the minimal
target, and possibly down to February lows of 1082ish.
a move to undercut the previous low by a small amount to collect
all orders that would be selling there and to add to an already
established buy position of the market maker. It's part of a market
maker's business model. They need a day or two to collect orders
from the opposite side before they have enough to start a move in
the opposite direction. Today is one such day, in my opinion.
Title: yes, but after a
IWM is VERY close to being a GREAT trade from long side. Nice weekend to all.
Posted by junkie on 9th of May 2014 at 03:12 pm
Yes, after a stop run exceeding today's low. It's the same pattern as on the third day of February of 2014. It would establish positive divergence on daily charts, which is not there yet, via rsi(5). I am looking at S1 (for today) of 1088 as the minimal target, and possibly down to February lows of 1082ish.
What is a stop runnull?
Posted by rbreese on 9th of May 2014 at 03:20 pm
What is a stop runnull?
Title: a stop run a move
Posted by junkie on 9th of May 2014 at 03:26 pm
a move to undercut the previous low by a small amount to collect all orders that would be selling there and to add to an already established buy position of the market maker. It's part of a market maker's business model. They need a day or two to collect orders from the opposite side before they have enough to start a move in the opposite direction. Today is one such day, in my opinion.
so do you mean up
Posted by shopper on 9th of May 2014 at 03:28 pm
so do you mean up from here?
Title: notice that today's low
Posted by junkie on 9th of May 2014 at 03:36 pm
http://stockcharts.com/h-sc/ui?s=$RUT&p=D&yr=0&mn=7&dy=0&id=p02404769190&a=125481557&listNum=61
I bet that the lows from April will be undercut and possibly lows from February retested to form a bear trap.
Yes and THX for your
Posted by rbreese on 9th of May 2014 at 03:39 pm
Yes and THX for your thoughts.
After the weak holders that
Posted by rbreese on 9th of May 2014 at 03:34 pm
After the weak holders that bought recently are washed out. Easily up 3 to 5 % that would play into Steve's ending diagonal to the upside.
yes, it is the same
Posted by junkie on 9th of May 2014 at 03:38 pm
yes, it is the same principle but applied at the sell side. It would be a shop run on the short holders, a bull trap.
I agree to wash out
Posted by rbreese on 9th of May 2014 at 03:28 pm
I agree to wash out weak holders.