No reversal in view. Either Draghi killed all large players plans or today is a shakeout and this final hour will be key.
Billy
No reversal in view. Either Draghi killed all large players plans or today is a shakeout and this final hour will be key.
Billy
Indeed, this was the risk-off liquidity pull that I really expected to happen Tues or Wed.
Now that the expanding terminal top has broken to the downside, the first bounce is typically sold and the market heads lower to the target, then bounces. Just one potential scenario...
This reversal put a stake it in for me. The one minute charts are deceiving. It happened in a humanly impossible burst.
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?
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)