Story is the same. All is on hold and looking neutral for FED meeting. That is way it works folks. Only looking at a longer term picture, we notice that Buy-pressure is above the average-pressure and the average pressure itself curving higher. That is our hint to trust the downside more than the upside. Nevertheless, we can not rule out an explosive new trend up ( not likely) or a 1-2 day spike that will clean out the chimney of shorts. Good TradingSORRY DROPPED LEGENDS, CYAN - Average Pressure, RED - spx ,BULE Buy-Pressure and YELLOW- Sell-Pressure.
3 comments:
good morning (EST time) to U Boris.
the Buy-Sell-Pressure charts.. i've been looking at these since you started the blog.
question.. every time you post a new chart, your discussion will be based on what's happening at the far right-hand side of the chart?
thanks for clarification.
Yes Dear Dxb, welcome back.
This chart is my XRAY into the market internals. It is what is happening ont the RHS of the chart, absolutely correct, but it has a longer context as explained in my rules and comments on this. Like the average pressure is calculated as an average of the buy pressure over 20 days. Correct though summary is what is last.
Good Trading DXB.
Yes Dear Dxb, welcome back.
This chart is my XRAY into the market internals. It is what is happening ont the RHS of the chart, absolutely correct, but it has a longer context as explained in my rules and comments on this. Like the average pressure is calculated as an average of the buy pressure over 20 days. Correct though summary is what is last.
Good Trading DXB.
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