WOWie! What a day!
- Registered 11 day low $tick
- 36 day high $tick
- Highest volume in a month
- Reached some very VERY oversold conditions throughout the day
- SP500 cash managed to close back above the neckline, very important level for both bulls and bears
- All above listed facts describe reversal day in the making, will have to step back and take a look at everything top down
- Put call closed at 1.0566 , bullish.
- bears managed to break support on highest volume of the month, thats a big plus, since this pattern requires confirmation yet failed to close below it
- some chart work to do today
Will put together a summary of play by play events in the market today, it was rather technical. And it wont be one of those retro analysis draw draw a trillion lines and then pick out the ones that mattered type deals. All development were twitted about on @esecfutures
Analysis posts will be up later tonight also.
have a great rest of the day
Vlad