Monday, May 6, 2013

dWbShadowTrader Quad

Again, I did not trade or even follow the markets today; however, from what I can see here it looks as though the Advance/Decline Breadth opened well under yesterday's Highs, then proceeded to build individual momentum to the upside and ultimately gather support from the MA's. Up/Down Volume also opened well under its Moving Average Highs from the prior day, but was able to gather support from it early in today's trading and rode the positive momentum of the Double Stochastic and Ergodic Oscillator up almost the entire day, closing at it's Highs. Cumulative Tick was a mixed bag, oscillating back and forth over the zero line, with no major swing highs or lows. There was what could be determined to be the lowest Tick reading of the day just prior tot he close. Accordingly, price has tanked in the after-hours session dropping another three handles. Price wanted to stay very close to it's 60 period simple moving average and 110 exponential moving average. Is evident that Price was able to climb above these moving averages right at the open and actually moved out substantially. This over-extension, however, brought in some decent selling, despite the light volume. The S&P 500 futures were able to rally up the majority of the afternoon, but closed off of it Highs. There was a big splash volume near the close, that should be telling us to be watching that price level closely, in tomorrow's trading and throughout the rest of the week.