Es 11-2-10
Posted 11-02-2010 at 09:46 PM by Tradewinds
Price was volatile and choppy in the first 20 minutes of trading, on a day with not a lot of news scheduled, and the election going on. That's not surprising.
I keep saying that the ES has an extreme price between 9:50 and 10:10am. And the high for the morning was at 9:53am. Even though the price moved up and peaked at 9:53, the ADVN-DECN was drifting down. So price and the Advancers - Decliners were going in opposite directions. Who's going to win that battle? ADVN-DECN is going to win that battle. The ADVN-DECN didn't fail to make a lower low until 10:43 am. Even though the TICK and the price bottomed out at 10:14, the ADVN-DECN failed to move higher. Who's going to win that battle? The bottom fell out at 10:34am and that was the low price of the day, and the low of the ADVN-DECN for the day.
I keep saying that the ES has an extreme price between 9:50 and 10:10am. And the high for the morning was at 9:53am. Even though the price moved up and peaked at 9:53, the ADVN-DECN was drifting down. So price and the Advancers - Decliners were going in opposite directions. Who's going to win that battle? ADVN-DECN is going to win that battle. The ADVN-DECN didn't fail to make a lower low until 10:43 am. Even though the TICK and the price bottomed out at 10:14, the ADVN-DECN failed to move higher. Who's going to win that battle? The bottom fell out at 10:34am and that was the low price of the day, and the low of the ADVN-DECN for the day.
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