From our member who provides excellent sentiment reports, today he sent me a High Frequency Trading Alert, basically confirming the reason I had the final target from Tuesday's post earlier this week above the SPY $138.18 area, the HFT's were busy today going after stops (a lot of traders still put stops in with brokers and those are easily seen by HFTs, so the very same reason I put that target where I did seems to be confirmed by an HFT activity source he follows-bottom line, stops taken out on a bunch of rumors which get even more ridiculous as the day goes on.
In the mean time, all of the assets that usually rally with ES are going the opposite direction, now hitting new lows.
CONTEXT's histogram making new lows as the model diverges from ES...
The reason I had the target where I did was because in addition to taking out stops, as I said last night, 4 of 5 major reversals start with a head fake move, today would be considered a textbook head fake move.
No comments:
Post a Comment