10/30 We had a consolidation day, with buyers (under spx 940) and sellers (above 960), mkt closed slightly to the bull side.
Even thought Indices didn't move much from open to close, but stocks seems over performce their coresponse futures. Take a look at USO vs. OIH, GLD vs. GDX, etc. Why is that? Only bullish sentiment could cause that happen!
Again we had more volume last 15 minutes than any other 15 minutes during the day, and most of those all are on BUY side that pushed SPX future ES from 935-940 area to 955-960 area to close! MOST of those BUYS are on strong commodity names! That could mean a lot for 10/31 and monday. (before election run)
Even thought Indices didn't move much from open to close, but stocks seems over performce their coresponse futures. Take a look at USO vs. OIH, GLD vs. GDX, etc. Why is that? Only bullish sentiment could cause that happen!
Again we had more volume last 15 minutes than any other 15 minutes during the day, and most of those all are on BUY side that pushed SPX future ES from 935-940 area to 955-960 area to close! MOST of those BUYS are on strong commodity names! That could mean a lot for 10/31 and monday. (before election run)
The day run through well, support 950 holds and closed as planed above 950 for continuation.
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