Neutral Day, Bullish Confirmations – December 8, 2011

[nickola.pazderic]

This reversal put a stake it in for me. The one minute charts are deceiving. It happened in a humanly impossible burst.

[ilonaross]

I was so proud of myself for dipping a toe in at 3:10... and then along came 3:39....

It looks like lot of buyers came in at 3:59, didn't they?

[Billy]

I was so proud of myself for dipping a toe in at 3:10... and then along came 3:39....

It looks like lot of buyers came in at 3:59, didn't they?

Ilona, in all likelyhood, only day-traders covering their shorts.

There’s no shame in buying a good reward-risk setup, especially when the ETF has dropped exactly one ATR which is a “normal” volatility retracement.
Billy

[Billy]

This reversal put a stake it in for me. The one minute charts are deceiving. It happened in a humanly impossible burst.

Attachment 11799

We have all the symptoms of a major reversal indeed. VWAP was resistance early and for the first time at the last hour rally attempt. Some large players tried to buy at the lows but larger players were waiting to sell in ambush at VWAP. We are now right on support cluster. Let’s see what the robot settings will tell us tomorrow.
Billy (licking my wounds)