The first hour's Total NYSE volume today was quite large (over 500k). By looking at this first hour's reading we get a clue when higher time frame traders (institutions et al.) have entered the market. Here's what it looked like this morning:
Since the "bottom" of this market in March '09 there have been only 5 instances where the first hour's Total NYSE volume was larger. The most recent being in December where we got a dummy long trade setup (a dragonfly doji in an area where price snapped back twice before). Three other occasions marked intermediate term tops.
Also curious, is the fact that we got a large move in Treasuries on Tuesday and Thursday. Are the
"Jaws of Death" beginning to clamp down?
Since the "bottom" of this market in March '09 there have been only 5 instances where the first hour's Total NYSE volume was larger. The most recent being in December where we got a dummy long trade setup (a dragonfly doji in an area where price snapped back twice before). Three other occasions marked intermediate term tops. 
Also curious, is the fact that we got a large move in Treasuries on Tuesday and Thursday. Are the "Jaws of Death" beginning to clamp down?
1 comment:
very hard to review you black
background charts. thanks, sam
Post a Comment