This page has been archived and commenting is disabled.
SPY Trading Range: VWAP Bounds
After a failed breakout early, today's SPY was bounded entirely by two key VWAP levels: the support was yesterday's closing VWAP, while the resistance was both yesterday's close, which just happened to coincide with today's VWAP. The low volume VWAP algos continue to rule the universe.... Until such time as we see a high volume breakout.
»
- 12270 reads
- Printer-friendly version
- Send to friend
- advertisements -
That was one of the more ridiculous closes I've seen...+15 in one minute before finishing down after the bell?
Or perhaps the SEC do their job... but I wouldn't count on that.
And you think +15 is ridiculous? How long you been watching this man? :)
Hahaha, I know. I'm just talking about the one-minute timeline. Believe me, I've seen the 50 points in 5-10 minutes gains...shame on me for thinking there wouldn't be an attempt to please the masses EOD.
on the spdr gap...firstly, my ta/ew skills are rudimentary at best. i have read in several spots discussion of the gap but it seems to me the figure discussed was 109. Again, my comment may very well be a complete waste of broadband but hopefully those with more knowledge than I will feel compelled to respond.
Andy, thoughts on this? :
Someone with more knowledge than I please take a look at the SPY call side Sept option volume today...strikes 100 through 105 have absolutely tremendous volumes today. The 105 strike is 984K with just 123K open interest.
I realize it's quad witching tomorrow and there will be some strange movements ahead of such an expiration. But those volumes are truly incredible, and they totally dwarf the open interest at all those strikes. Does anyone in the know have an explanation here?
I think you are clearly right (again, my skills in this area are not strong).
chart from evil speculator today might have what you are referring to.
http://evilspeculator.com/wp-content/uploads/2009/09/spy_9_17_09.png
as I understand, there is a gap around spx 900-901ish....i'm hoping that gets filled...real soon!
Hey Andy, my data reads 107.62 as the high on October 6, 109.68 on October 3rd (a Gap on a weekly chart, highly significant) and I read the same on Yahoo.... so we really entered the zone and got rejected like the first time you went for the browneye.
This is a serious problem between services providing unadjusted vs. adjusted price charts. I seriously couldn't figure out today why SPY would enter that gap and then have a sudden reversal so soon. Every gap in the world lately has been getting filled. You're going to tell me that the perma-bid SPY wouldn't close that little bit with the EOD ramp still to come?
Then I saw the difference in charts, and why (BB GPC default shows unadjusted, Stockcharts shows adjusted). Should be quite a discussion over the weekend if tomorrow stays under 108.
As far as I'm concerned, gaps are like magnets once prices get close to filling. The put/call ratio as of yesterday was .45. Used best as contrarian indicator, it is getting close to a level that can signal a top. Additionally, the DSI is at 92 percent stock bulls, on both a daily and 10-day basis. Perhaps the VIX has found it's bottom at 23 since implied vols are just not breaking down.
Hey Bearish...thats nothing. I remember not too long ago the market cranked up almost 100 points in the last two minutes of trading on a Friday in order to hit DOW 8000(pretty sure it was this level) for the weekend MSM headlines...that was the jaw dropping ordeal for me that told me there was some bullshit playing with the markets.
I feel that...wow. That wasn't one of those 300-400 point days, was it? I wasn't able to watch day-to-day until May. I probably would have popped a vessel in my brain if I saw that. Maybe a bloodshot eye. :-)
Why as the Arms index been the same for the last five days? It has been 1.38 for five days straight. I don't look at it often but I thought that was kind of odd.
check this one
http://www.dqnews.com/Articles/2009/News/California/Bay-Area/RRBay090917...