I didn't trade this afternoon. Market volatility died, and I really didn't see a trading opportunity that was worth the risk. The market did close near its Point of Control, and the $TICK moving average on the 15-minute chart is confirming the bullishness. The large caps have a tendency to be bullish the last week of December.
Charles
hi, Charles!
ReplyDeleteim trading ES already more than a year.
Bur never have seen such low volume, volatility.
Whats happening?
Hi meques,
ReplyDeleteThe market is currently testing the 50% correction price level of a 2-year range. Believers in wave theory think that the market should go down from here, so buying is drying up. However, the economy may be improving, so long-term investors see little reason to sell. We then have a situation where traders are unwilling to buy beyond the 2-year 50% correctiion level, and long-term investor unwilling to sell. So, here we sit.
The first part of 2005 had a daily Average True Range of only 8 points. In 1993, the entire year was very low volatility and volume. In that year, floor trades spent most of the day playing cards.
Charles
thanks for explanation.
ReplyDeletehope it will last soon.
facing the same trouble like Brett.
No trade opportunity for me now.
http://traderfeed.blogspot.com/2009/12/standing-aside-in-slow-markets.html