Wednesday, November 24, 2010

Yesterday Down, Today Up...

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Two percent down yesterday, two percent up today - volatility is growing. This mean that traders are nervous.

The Us Dollar is down today. It is interesting to watch this, as S&P 500 continues to mimic opposite trend of US Dollar Index.

Right now, I would expect to see some decline within the next hour (watch for a decline in money flow on 5-min chart). If it happens I would watch money flow on 15- and 30-min charts.

I would not make any bets on options today. The long weekend with short trading session on Friday is not good time to hold position in options.

2 comments:

George said...

It does not seem there is a lot of selling volume, on top of a light session.

On the heel of an initial claim that is sizable less than the MA of the past weeks, every pullback finds a bid. It does not seem a pullback can take place today.

TraderJoe said...

please read my last post