Apr 052010

This image is pretty self explanatory. It shows the trading detail in September 2008 during the huge selloff. Obviously, there were a lot of prices in the 1180’s virtually “skipped over”. The market will have a difficult time understanding those prices and once we get into the tail enough, we can expect a fast market up to the next known area of previous balance. The single prints start at 79 and the no prints start at 81. As I write this I see that we traded right up to the no-print zone overnight and rejected. 81 will be an important area to watch today, or whenever it gets re-tested. If we trade above it by much we are likely to move to 84, 86, or even 88 very quickly. Volume at price in this image is presented with 5 minute granularity…

 Posted by at 6:28 am

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