* td ES vol highest from 1st sep
* td ES vol 9.8% lower than 1st sep
* 6/8 sctrs incl XLF posted fresh yr highs
* no meques mrs sell signal yet
Good for the bulls. Today, 16th september, was second session in a row when sellers early morning attempts to cut some recent profits off the table have failed & on positive morining econ. data we met closing bell at the new 2009 highs.
But what was with volume? I heart on the floor calling it sustainable, but indeed it was not. Yes, todays volume is even higher then yesterdays remarkable number, but there are no talks about double digit percentage points superiority. ES (S&P 500 futures) today have climbed relatively to the day before on some 2.1%. Total NYSE volume today has near the same percentage gain – 1.5%. But do note, that since 1st september slump, that had pushed market for a couple of session back below 1000p on S&P 500, none of the following sessions volume have exceeded 1st autumn session total volume number (see right chart below).
Still todays volume was remarkably unusual. In the normal mode, referring to an average performance due to each 30 minutes volume data, in the middle of the session we always do see volume contraction. Not for today. As oscillating near 1050-1055p on ES have finished with the upside break out, following hour we saw huge volume increase. In comparison with an average of the last 50 sessions volume, on 1030 & 1100 ET when ES have broken key 1055p resistance level, volume have almost doubled.
Final half an hour of the session, when ES was continuing making fresh highs, volume was also impressive. ES never posted such modest volume gain in the last 30 minutes since even 17th august. Indirectly it tells us that in the following days we can see continuation of institutions participating in the new bull market leg.
Upside move today was also finally confirmed by financials. Yesterday i ones again have emphasized that bulls still did have problem with sluggish sector performance. But today was the day of the broad rally & new highs. Fresh highs today have posted almost all key 8 sectors, except health care & cons. staples.
Back to MRS strategy, it still didn’t gave sell signal, cause stoch lines are not crossed yet on ES continuation four hour chart. Do remind you that when stoch value line & signal line crosses that corresponds to be the sell signal with more than 80% chance to win, cause we already do have 2/3 tech indicators on ES four hour chart already confirming the signal.
* td ES vol 9.8% lower than 1st sep
* 6/8 sctrs incl XLF posted fresh yr highs
* no meques mrs sell signal yet
Good for the bulls. Today, 16th september, was second session in a row when sellers early morning attempts to cut some recent profits off the table have failed & on positive morining econ. data we met closing bell at the new 2009 highs.
But what was with volume? I heart on the floor calling it sustainable, but indeed it was not. Yes, todays volume is even higher then yesterdays remarkable number, but there are no talks about double digit percentage points superiority. ES (S&P 500 futures) today have climbed relatively to the day before on some 2.1%. Total NYSE volume today has near the same percentage gain – 1.5%. But do note, that since 1st september slump, that had pushed market for a couple of session back below 1000p on S&P 500, none of the following sessions volume have exceeded 1st autumn session total volume number (see right chart below).
Still todays volume was remarkably unusual. In the normal mode, referring to an average performance due to each 30 minutes volume data, in the middle of the session we always do see volume contraction. Not for today. As oscillating near 1050-1055p on ES have finished with the upside break out, following hour we saw huge volume increase. In comparison with an average of the last 50 sessions volume, on 1030 & 1100 ET when ES have broken key 1055p resistance level, volume have almost doubled.
Final half an hour of the session, when ES was continuing making fresh highs, volume was also impressive. ES never posted such modest volume gain in the last 30 minutes since even 17th august. Indirectly it tells us that in the following days we can see continuation of institutions participating in the new bull market leg.
Upside move today was also finally confirmed by financials. Yesterday i ones again have emphasized that bulls still did have problem with sluggish sector performance. But today was the day of the broad rally & new highs. Fresh highs today have posted almost all key 8 sectors, except health care & cons. staples.
Back to MRS strategy, it still didn’t gave sell signal, cause stoch lines are not crossed yet on ES continuation four hour chart. Do remind you that when stoch value line & signal line crosses that corresponds to be the sell signal with more than 80% chance to win, cause we already do have 2/3 tech indicators on ES four hour chart already confirming the signal.
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