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UrmaBlume

The Technical Anatomy of Today's (10/06) High

By UrmaBlume, in Technical Analysis

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UrmaBlume    10

UrmaBlume
Posted

Between 0808 - 0812 PST today there was coordinated intense commercial selling in all 3 major US equity futures.

 

The first chart is our longer term chart (volume bars 900,000 contracts) with net money flow. Of note is that price met resistance at around a 2/3rds retracement of the previous leg down. Also the negative divergence between price and money flow continues.

 

The second chart is of the HUD and the pie charts show the selling against the backdrop of the strong early buying.

 

The third chart is of the coordinated commercial selling in all 3 equity futures.

 

The fourth chart shows the selling just before the top in ES.

 

*****

Of note is that price met resistance at around a 2/3rds retracement of the previous leg down. Also the negative divergence between price and money flow continues.

 

100609lthigh.jpg

 

 

The second chart is of the HUD and the pie charts show the selling against the backdrop of the strong early buying.

 

100609hud1.jpg

 

The third chart is of the coordinated commercial selling in all 3 equity futures.

 

100609sellspikes.jpg

 

 

The fourth chart shows the selling just before the top in ES.

 

100609rpt2.jpg

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