Daily 10/21

[UrmaBlume 10]

Today's Market Report - ES - 10/21/2009

Archive of Daily Market Reorts

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Today's Numbers

1030 EST Crude Inventories

1400 Fed's Beige Book

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Day Summary

 

For the past several days we have noted a negative divergence between price and money flow.

That divergence manifested itself today.

At an hour and fifteen minutes into the session strong commercial selling put in the session high.

This selling continued throughout the session on above average volume with a decided sell bias.

From the top this selling drove prices down more than 25 points to close

well below nite and recent local support. Net New Trade by Commercials was -55,148 contracts.

The first chart down shows the longer term and the negative divergence between price and

Net Money Flow which broke down two days ago.

The Second Chart down shows today's price action

 

 

 

At 2 hours into the session price has rallied to test recent highs.

Strong selling was encountered at 1,098.50 and there was a pullback

Volume is 117% of average with a notable buy bias

Net Commercial Trade is +50,332 contracts and at this moment

Trade Velocity is 2,745 contracts per minute

 

 

At 4 hours before the open price is making new session lows at 1,083.75

No support yet and selling above 1,092

 

[fritol 10]

Hi Urmablum

Id like to ask how to interpret the Net New Trade by Commercials , yesterday 10/29/2009 ur report showed something like +150000 conteracts and some bullishness factor (dont rember exactly )was 250% of average. Yet the next day the ES went -2% at some point.

 

Thought this would be rather an indication of bullish continuation.

Edited October 30, 2009 by fritol