The NASDAQ futures, on the other hand, stalled at the test of the PDH. When the NASDAQ failed to confirm the price action of the broader market, it was a tell. The bears stepped in on the non-confirmation leading to a late session sell-off.
Friday, June 10, 2011
Market Tell - Confirmation vs. Non-Confirmation Between Indices
Non-confirmation of the NASDAQ versus the broader market, leads to late session sell-off. The S&P futures easily took out the PDH and continued to trend higher, almost reaching a full retracement of the last leg lower as depicted on the ES chart below.
The NASDAQ futures, on the other hand, stalled at the test of the PDH. When the NASDAQ failed to confirm the price action of the broader market, it was a tell. The bears stepped in on the non-confirmation leading to a late session sell-off.
The NASDAQ futures, on the other hand, stalled at the test of the PDH. When the NASDAQ failed to confirm the price action of the broader market, it was a tell. The bears stepped in on the non-confirmation leading to a late session sell-off.
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4 comments:
Hi Jamie,
are you still there and trading? How come you dont post anymore?
Im missing your insights and review of great setups/trades.
Hope everything is fine!
Regards,
T
Hope all is well.
Hi Jamie,
Hope you are well. Have never seen you silent on the blog for so long.
Thanks guys,
All is well, just taking a break.
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