Сrippled bulls enthusiasm, based on volume data, have vanished off the screen. Todays total ES (S&P 500 E-mini futures) volume have exceeded near 19% relatively with an average total daily volume of the past 50 sessions. Pretty nice, but not enough. Past session on 15th september 09’ total volume number still on some 12% smaller in comparison with 1st september volume, when market had slumped below 1000p. on S&P 500.
In the early trading, todays bears attempt to cut off some of the past sessions gains, have failed & and had resulted in huge bullish volume surge. That volume spike initiated by positive momentum, partly thanks to better than expected morning econ. data, have gave the market a chance to refresh it highs. Offered – done. Fresh ES (if to be correct, ESZ9 Globex e-mini S&P 500 futures) have updated its high and posted 1051.75 points – the highest past session point. So, we did touch strong resistance level (1k plus 50 points) on a very nice volume. But does it means that bulls nothing to worry about?
Have to say, as i did numerous times. In the upside moving we have trouble with finanials. Yep, that’s no more a surprise or something new, but each session, at least past sessions, you can note financial sector, particularly XLF ETF opening with a gap down & in early trading, strongly underperforming the market. Closer to the middle of sessions business got it right, but still not shaping down. Nevertheless, exacerbating sluggishness of financials – a need to keep in a short-term – middle-term trader’s mind.
Still, right after past session closing bell, do declare that energies, particularly, XLE have finally updated its year high. Past high the sector have posted not when majority sectors did – near 25th august versus energies even 11th june. So, my congtars to energies & commodities bulls! Do believe you’ll break above 75$/b.
Continuing financials case, it looks like the old story of four financial folks still is in place. On the last full summer week or august week, as you wish, volume of Citi, AIG, Fannie & Freddie have accounted more than 20% of all NYSE volume. As it was disclosed, one of the indicators named TRIN was unveiled like an indicator showing that financials volume finding.
So in response of current TRIN & XLF performance, plus steadily heavy volumes at least in Citi & AIG stocks, looks like story is continuing. At least according to the past session results C have lost 6% & AIG 8% respectively. Yep, i do know past session stocks price as well as volume performance was based on fundamentals, but internals showing - story still in the game.
Elsewhere, according to Meques MRS strategy, i reveled couple of days before, even at the background of ES touching 1050p. ES continued chart did not presented sell signal i was waiting for. In the same time, based on ESZ9 contract chart only, we did have the sell signal. Story developing.
In the early trading, todays bears attempt to cut off some of the past sessions gains, have failed & and had resulted in huge bullish volume surge. That volume spike initiated by positive momentum, partly thanks to better than expected morning econ. data, have gave the market a chance to refresh it highs. Offered – done. Fresh ES (if to be correct, ESZ9 Globex e-mini S&P 500 futures) have updated its high and posted 1051.75 points – the highest past session point. So, we did touch strong resistance level (1k plus 50 points) on a very nice volume. But does it means that bulls nothing to worry about?
Have to say, as i did numerous times. In the upside moving we have trouble with finanials. Yep, that’s no more a surprise or something new, but each session, at least past sessions, you can note financial sector, particularly XLF ETF opening with a gap down & in early trading, strongly underperforming the market. Closer to the middle of sessions business got it right, but still not shaping down. Nevertheless, exacerbating sluggishness of financials – a need to keep in a short-term – middle-term trader’s mind.
Still, right after past session closing bell, do declare that energies, particularly, XLE have finally updated its year high. Past high the sector have posted not when majority sectors did – near 25th august versus energies even 11th june. So, my congtars to energies & commodities bulls! Do believe you’ll break above 75$/b.
Continuing financials case, it looks like the old story of four financial folks still is in place. On the last full summer week or august week, as you wish, volume of Citi, AIG, Fannie & Freddie have accounted more than 20% of all NYSE volume. As it was disclosed, one of the indicators named TRIN was unveiled like an indicator showing that financials volume finding.
So in response of current TRIN & XLF performance, plus steadily heavy volumes at least in Citi & AIG stocks, looks like story is continuing. At least according to the past session results C have lost 6% & AIG 8% respectively. Yep, i do know past session stocks price as well as volume performance was based on fundamentals, but internals showing - story still in the game.
Elsewhere, according to Meques MRS strategy, i reveled couple of days before, even at the background of ES touching 1050p. ES continued chart did not presented sell signal i was waiting for. In the same time, based on ESZ9 contract chart only, we did have the sell signal. Story developing.
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