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meanVelocity's Thread
Updated December 10, 2014
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meanVelocity's Thread
December 4th, 2014, 11:17 AM
Boynton Beach
Experience: Intermediate
Platform: NinjaTrader
Trading: ES,TF,CL
Posts: 203 since Mar 2012
Thanks Given: 327
Thanks Received: 146
meanVelocity
There is a possibility this isn't a compression pattern, and everyone has just gone on holiday... LoL!
Nah... Still an hour and a half till lunchtime. The morning round of play shouldn't be over yet...
Well meanVelocity, if you don't know, then I guess no one knows.
Can you help answer these questions from other members on NexusFi?
Best Threads (Most Thanked) in the last 7 days on NexusFi
December 4th, 2014, 11:27 AM
Portland, OR
Posts: 201 since Oct 2014
Thanks Given: 2
Thanks Received: 62
kburks
Well meanVelocity, if you don't know, then I guess no one knows.
That is exactly what causes a compression pattern. Everyone is confused about which direction to go.
December 4th, 2014, 11:48 AM
Portland, OR
Posts: 201 since Oct 2014
Thanks Given: 2
Thanks Received: 62
Market is trying to catch a bid off that support... Had to jump in fast and get a point.
It's just disappointing the market couldn't setup perfect there... If we had made it back to fully test the lows, could have setup for a extremely strong rally.
December 4th, 2014, 12:00 PM
Portland, OR
Posts: 201 since Oct 2014
Thanks Given: 2
Thanks Received: 62
Oh... Woops, totally didn't notice there was a volume capitulation on the Nasdaq 100.
This rally can roll onward.
December 4th, 2014, 12:04 PM
Portland, OR
Posts: 201 since Oct 2014
Thanks Given: 2
Thanks Received: 62
So, it looks like everyone is actually playing in the Nasdaq , and the S&P is just playing tag.
Need to update my multi-index chartbook. Cannot believe I missed most of that move.
December 4th, 2014, 12:20 PM
Portland, OR
Posts: 201 since Oct 2014
Thanks Given: 2
Thanks Received: 62
If you didn't notice. I use new lows and new highs as confirmation buy and sell signals.
Floating lows really annoy me...
Market is losing a little steam here, but everyone is still going to "try" for gap fill today.
December 4th, 2014, 12:24 PM
Portland, OR
Posts: 201 since Oct 2014
Thanks Given: 2
Thanks Received: 62
Lunchtime... Games may be over until after 1pm EST . If you think today is a bit wild... This is quite normal for the day before jobs report.
December 4th, 2014, 12:37 PM
Portland, OR
Posts: 201 since Oct 2014
Thanks Given: 2
Thanks Received: 62
Woah... Came back... Alarms going off! Now that was volume capitulation . Looks like a lot more people were short than I thought.
Hope everyone who had longs sold them into that. It's unlikely you will get a better price until tomorrow.
December 4th, 2014, 01:18 PM
Portland, OR
Posts: 201 since Oct 2014
Thanks Given: 2
Thanks Received: 62
Sheesh... Should have gotten a lot more than a few points in what should have been a "Duh" simple trading day past morning session.
Double directional mirror capitulation . Longs got blown out, market trended up... Shorts got blown out.
December 4th, 2014, 01:58 PM
Portland, OR
Posts: 201 since Oct 2014
Thanks Given: 2
Thanks Received: 62
If your looking to hit the bid again today, wait until the weak longs blow out. They may or may not, but it's most likely they do.
Support is around 70 on the cash.
Last Updated on December 10, 2014