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Session Wrap Up
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Session Wrap Up

Session Wrap Up

by The MoleSeptember 28, 2011

Despite that little early morning spike today was a good example of an unfolding down trending day:

I think the video says it all – the bulls never got out of the gate and got completely cock blocked by Mr. VWAP.

Now, since Volar mentioned the ISEE I decided to update my own chart. The subs get a peek:
[amprotect=nonmember] Charts and commentary below for anyone donning a secret decoder ring. If you are interested in becoming a Gold member then don’t waste time and sign up here. And if you are a Zero or Geronimo subscriber it includes access to all Gold posts, so you actually get double the bang for your buck.
[/amprotect] [amprotect=1,13,9,12,5]

The updated ISEE chart illustrates the point I have been making to Volar: Yes, that spike down is extremely retail bearish (i.e. bullish for us rats). But at the same time we had an opposite spike outside the upper BB line pretty recently and sentiment swings like that in such a short time frame are rare and usually puts me in the ‘skeptic camp’ (conveniently rhymes with to septic tank – figure it out).

So, maybe Scott is up to something with the Retest Variation Buy setup – but medium to long term this may not mean much.

Cheers,

Mole
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About The Author
The Mole
Mole created Evil Speculator amidst the chaos of the financial crisis in early August of 2008. His vision for Evil Speculator is a refuge of reason, hands-on trading knowledge, and inspiration for traders of all ages and stripes. You can follow him and his nefarious schemes at the usual social media waterholes.
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