Posted by stevieb294 on 25th of May 2016 at 12:48 pm
..a large trend day.
The day of an unusually large trend day belongs mostly to those
who trade during the day. (Regardless of the reason for the market
move.)
That night, the evening news is filled with the unusually big
numbers. (Like from those news anchors who love to make everything
sound earth shaking.) If it is on the front page of MSM like
the Times or USA Today so much the better.
This wakes up longer term traders/investors that maybe they
should be involved. So they call their brokers to get involved,
thus moving the market in that same direction for the next day or
two.
By the third day the direction is about exhausted.
Posted by stevieb294 on 25th of May 2016 at 01:42 pm
I think you need to look at some secondary numbers as well. If
you look at Adv:decl numbers and Adv:decl Vol are not the numbers
we had yesterday. Most of the sectors were up 1% yest, MOST are not
today. Vix was pinned lower all day. Not the case today. (put all
those on a 3min intraday (Heikin Ashi) chart and see what I mean)
And from the very first SpX and really the market, moved up strong
all day with very little giveback. Take a look at a simple 30 min
bar chart, with no other indicators and compare the 2 days and you
will see the difference in trend. Just my opinion, of course.
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Trend day?
SPX 3 min
Posted by burkmere on 25th of May 2016 at 11:45 am
I have a theory about the day after...
Posted by stevieb294 on 25th of May 2016 at 12:48 pm
..a large trend day.
The day of an unusually large trend day belongs mostly to those who trade during the day. (Regardless of the reason for the market move.)
That night, the evening news is filled with the unusually big numbers. (Like from those news anchors who love to make everything sound earth shaking.) If it is on the front page of MSM like the Times or USA Today so much the better.
This wakes up longer term traders/investors that maybe they should be involved. So they call their brokers to get involved, thus moving the market in that same direction for the next day or two.
By the third day the direction is about exhausted.
(Just an unresearched theory.)
nah, not in the normal
Posted by matt on 25th of May 2016 at 11:53 am
nah, not in the normal sense anyway, rarely do you get back to back trend days like yesterday.
that said doesn't mean the market can't rally to another high today as the MACD has recycled so far on the 5 min
focus on your triggers
What is diff about today?
Posted by burkmere on 25th of May 2016 at 01:04 pm
I guess I don't understand what is different about the charts today then from yesterday? Seems to me they are the same and this is a trend day also.
Russell consolidation today
Posted by a_l_ on 25th of May 2016 at 03:45 pm
Russell consolidation today
Personally...
Posted by stevieb294 on 25th of May 2016 at 01:42 pm
I think you need to look at some secondary numbers as well. If you look at Adv:decl numbers and Adv:decl Vol are not the numbers we had yesterday. Most of the sectors were up 1% yest, MOST are not today. Vix was pinned lower all day. Not the case today. (put all those on a 3min intraday (Heikin Ashi) chart and see what I mean) And from the very first SpX and really the market, moved up strong all day with very little giveback. Take a look at a simple 30 min bar chart, with no other indicators and compare the 2 days and you will see the difference in trend. Just my opinion, of course.