These are excerpts from last night's post...
"Last night (Monday night) I told you of the Dominant Price/Volume Relationship and that it represents a short term oversold condition which we usually see the following day close higher, that was the case so volume is still very much relevant even a it seems it is not, you just have to look at it in a way in which the crowd doesn't. Today's dominant P/V relationship was the most bearish, Close Up/Volume Down, the exact opposite of yesterday's and typical of a very thin market running out of buyers. This relationship was in 3 of the 4 majors, the R2K being the exception as it had no dominant relationship.?
"I also noticed an odd pattern in the EUR/USD, it first looked chaotic, and now looks to have settled its minor moment of indecision with what looks to be some losses to the downside tonight."
Perhaps this is the reason for the negative 3C divergence in futures tonight, both ES and NQ.
Perhaps tomorrow we'll have an opportunity to cash in on some of the April Puts and establish some new positions, even in this dead-chop market, there's seemingly always an opportunity if you are patient.
And this morning...
With 200:1 leverage it's not surprising futures tumbled on a stronger Yen last night.
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