Archive for End-of-Day Commentary

Sep
02

Follow-through Day after 20:1 Up/Down Volume Ratio

Posted by Rennie on Thursday, September 2nd, 2010 at 9:54 pm

We usually discuss up & down volume as a percentage of total volume, but another way of looking at the data is to take a ratio of up volume divided by down volume. On Wednesday, this ratio was over 20:1 (see chart). While we’ve actually seen a few 20+ readings in…
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Sep
02

ES Open Interest Alert

Posted by Rennie on Thursday, September 2nd, 2010 at 2:05 am

Preliminary open interest figures released by the CME this evening reveal…
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Sep
01

As September goes…

Posted by Rennie on Wednesday, September 1st, 2010 at 9:53 pm

With the S&P currently up 3% for the month of September, now’s a good time to remember that September is a pivotal month in terms of…
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Aug
29

SPY Trades Below Steenbab S2, Closes Above R2

Posted by Rennie on Sunday, August 29th, 2010 at 12:27 pm

Stocks surged higher Friday, fulfilling short-term buy signals related to the recent contraction in new lows. It was the largest range day for S&P futures in over a month and a 90% up volume day. That 90% up volume comes right after…
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Aug
25

Contraction in New Lows

Posted by Rennie on Wednesday, August 25th, 2010 at 10:07 pm

After trading 1% lower early in the session, stocks recovered to close with modest gains Wednesday. Probably the most noteworthy development was the contraction in…
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Aug
25

When the Only Stocks to Rally are Utilities

Posted by Rennie on Wednesday, August 25th, 2010 at 2:22 am

S&P futures posted an unfilled downside gap and a fifth consecutive lower close Tuesday. Five down days for the S&P used to be a reliable short-term buy. From 1992 through 2005 this pattern occurred 27 separate times, all of which led to a higher S&P close within two sessions. But in a sign of the times, this price pattern has…
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Aug
22

Last Hour Indicator Approaching Key Technical Resistance

Posted by Rennie on Sunday, August 22nd, 2010 at 4:19 pm

Volume in E-Mini S&P futures was off 26% from Thursday’s level, triggering the short-term bullish setup mentioned Friday. Only five stocks within the OEX closed under their lower bollinger bands Friday vs. 11 on the prior Friday (see chart), setting up a positive divergence with the S&P. We saw a sharp expansion in new 20-day lows, rising from 1,279 on Thursday to just over…
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Comments, data and trading signals herein are for informational purposes only and are not recommendations to buy or sell. All information presented is believed to be accurate but is not guaranteed.