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TheNegotiator
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About TheNegotiator
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I love it! You just have to be nimble and disciplined. Plus, even if you don't actually like this type of movement, it's exactly the kind of shake up the markets need to get them trading nicely again (not that they haven't been).
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Just an observation, but if the mid/open/VAL/VWAP area 12.75-13.50 cannot be retaken the current low at 1407.00 is in danger of being broken imho. But trade what you see and what does happen. :missy:
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Updated chart for the day so far:- Note yesterday's close was where it turned.
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democrats comfortable going over the fiscal cliff - boehner
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Just a quick clarification on how I view gaps:- Two ways 1) Session gap - this is RTH close to RTH open. I generally prefer it as the gap is artificial anyway. The "unauctioned" prices are point to point and it's my view that it's best to take it from the last price. 2) Range/Profile gap - this is a gap between the extreme of the prior RTH session and the open of the new RTH session. The gap is the "unauctioned" prices where the market has yet to trade at all. I prefer 1 but I always look at both - especially when the close and high/low are not close together. I believe it also depends on the market mode we're in as to which is more likely to act as a level (and if it coincides with an important level as well).
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Quick thought. If we opened here ~14, the half gap(to close) would come in around the high from 11/7 which is the high of the cyan balance profile I have drawn.
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Important levels above imo:-
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So zh is claiming the spike overnight was a ff. Whether it was or it wasn't, the market has extended higher and is setting up to be potentially quite bullish. I guess that depends though on any more comments coming out from various sources about the fiscal cliff and greece/spain/europe situation.
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Video stream for Obama:- The White House
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If that were followed by the market falling back out of the prior 3-day balance, I believe there would be some toasted longs. I'm not saying I believe this is what will happen, just thinking about what might be the consequences if it does happen.
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On the auction: if the market really is strong and bullish about news today, prior VPOC shouldn't be rejected. i.e. the test of 1400.25 is crucial. It could still reverse from there initially, but if I was a bull I would not like to see a quick rejection of that price area.
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Yeah the Big O could certainly move us like crazy if he's chatting about the fiscal cliff.
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Looking at the rth profile, the prior balance low 1393.75 is clearly important so far:- Testing that 97.50 as I post..
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I am looking at this thinking what could happen. We fail to hold the 3-day balance = not very good and move lower possibly down to that 77.75 level becomes more probable. We build in the balance = overnight and early rth shorts are stuck. Take out 1397.50,98.25& 1400.25 and look to that SOC at 1405.00 then balance highs etc. We do nothing. Fill the gap, literally.= LAME
