AB - lone star

After close analysis:

This was like Jan. 14, 2005 just before MLK weekend where there was huge volume and futs were held down. That's what exactly happened today, futs were held down. This usually translates to more upside going forward. Range chart ready to bo to the upside (sloping base pattern). Could it be that futs are used as hedging long stocks?? Sounds logical (when was last time that happened? :P). Couple of nice bo setups: 2bo earlier then followed by 6bo reaching its target and more.

Observation(s) of the day: NQ didn't bo and that's what kept market and AB at bay. Also the futs/vold decoupling (fancy words). Interesting 1bar reversal pattern off emas, will backtest further but looks promising.

Market breadth flipped to the upside today with a lot of conviction. VOLD recorded a hi of 973 while Add and Addq were 'decked' (inside joke hehehe) to the upside all day. All crossed emas.

Futures were mixed. AB certainly was the star of the show and bo-ed while NQ and ES didn't do much except hovering above their emas.

Indices especially SOX & SMH retraced their upmove and didn't bo to the upside out of their respective patterns but still held above their emas. This confirmed the chop for the day.

Overall positive day!