Why do you care about the DOW is you are trading the QQQ? The DOW is the DOW and anyone buying the QQQ at this point above 87.97 has to and a HAS TO BUYER is not a good buyer.
DOW futures as expected broke the high for the year. YM traders always get taken to the woodshed.
Reporting bush.wacker for abuse because he is reporting abuse.
The idea of the FED actually "buying" and holding anything is an abomination. It is the PROOF that there is NO MARKET for certain types and classes of debt. This implies that the ASSET VALUES that are being reported by the HOLDERS of this debt is a complete sham. LOWER OF COST OR MARKET.........well now.........can you say accounting fraud?
Well it is. Because the real market value has to be less since there is NO MARKET or else the FED would not have to be the buyer.
Which came first, the chicken or the egg.
I got a thumbs down today for explaining why the QQQ is struggling. I knew the bartab would start again.
Market goes to supply. Supply is above 87.32. All that supply above 87.32 has to be cleaned up.
troll the IWM is used to make other stuff go.
The bounce off the 252 day vwap matters in that scammy little index.
I was expecting up move today back towards 200 day vwap although I tend to think that is for show only.
Keep track of the 5 and 10 day ranges. Then measure them.. 3575 on the nq futures was almost too perfect.
71.76 % away from the 5 day low and 4 standard deviations away from the closing vwap. and 143.45 % percent of the normalized 252 day daily range. It's all about the range and not about the fans.
Russel did its dance and back down we go for a nice trade.
I hope you took my advice and took cover down in those 108.40's today. I was expecting the bounce off that level in the IWM.
That was the first time since 2012 that we had a pull back to the 252 day vwap ( unless I missed something).........so we got the response as expected.
There will come a day when that 252 day vwap is in a sell zone and the buyers of that line will be wrong and get smoked. But that was not today.
Look at the NK........I knew it was so weak.........total scammo........that pig showed us that the 252 day vwap could get busted. Moves up were all BOJ trying to save it. True price discovery has to be allowed in a real market. NK shows us the scam of what happens when you print to infinity and when you manipulate markets and intervene.
Kibbles, there is so much more downside. NASDAQ can not hold it's 2014 midpoint nor can IWM.
LAst to go will be DOW and SNP.
the 390 minute vwap is the slowest vwap you can have in one day.....so that has to be the slowest average price........if you trade from 930 to 4 pm.......
So,,,,,,if you NORMALIZE EVERYTHING........take a look at the 252 day AVERAGE TRUE RANGE......Add 1 ATR to, and subtract 1 atr from ,,,,,the rolling vwap........that is your true dynamic average of price. So look at this level on the qqq today.........87.70 ish broke........and that was telling you that the trend up was over......then the panic and here we are.......the 252 day AVERAGE RANGE is around .86 to say .92 depending on how you calculate it. 87.75 - .86 was my expected target down today and anything past that is gravy. A must cover area for the sure money. We got there.
I look at the 252 day range, the 252 day rolling midpoint.......and the 252 day vwap. The reason I look at the 252 day vwap is because that is the slowest possible vwap you can have in one year rolling, since there are only 252 trading days in the year.
SO, if the 252 day vwap breaks, it implies that every one averaged in at or above that 252 day VWAP, (which is not the same as the 252 day simple average), Is underwater.
The other STATIC LINE I use is simply the CURRENT YEARLY MIDPOINT. So in the case of the RUSSEL, the 2014 midpoint is 113.92. SO everyone long above it is underwater.
I think that the longer term averages and midpoints mean much more than anything else.
There is the 20 50 200 crew, the 13 34 89 crew........and I just think that is a big myth.
If you have seen my posts I have consistently warned whatamarket about getting the heck out above 87.32 on QQQ.........this years midpoint.
For short term direction I use a 390 minute rolling vwap on a 1 minute chart.