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kid hustlr said:
Having a go and holding over the weekend by the looks!

I like the S&P trade, if you were going to have a go at holding anything over the weekend I think that one shaped up quite well.

The question is what SIZE J?
Click to expand...

Final #SPX #MOC Imbalance is $1907 Mil to BUY
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, ex BarCap

amongst many....they were giving "it" a go ...i was merely tagging along
 
Now that we've got the gap firmly in place, we've got a nice reference area. A break back below 2900 that is persistent says the short covering is over...Will we just drift until the vote though? We're smack in the value area though, any move up and through 3100 would be very bullish. Frankly, I'm just not feeling that bullish!
 

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Nice charts Can.

Feels like the market has run it's race and its now just going to flop around until the vote. I view recent action as bullish but my underlying view for the past several months has been US/Euro markets are going higher.

Trading plan for tonight I'm still unsure.
 

My guess is something like this...

I reckon we might grind higher and then lots of volitility while the vote is being counted (our Friday late morning until late afternoon) and every little rumor sparks a flurry of sweeps as the lack of liquidity plays with the market makers heads....

Then, the vote is announced, its majority to stay in the EU, we spike higher and then resume the sell off....
 
Agree - nobody cares about brexit. Charts are indicating downside for USD and markets look they would go parabolic in couple weeks. SPX shorts are toast. If Britain chooses to stay, I expect a short-term relief rally which will squeeze out the shorts, though Europe's problems remain.

From my commsec one report yesterday -
For the UK, the vote will have a raft of consequences. Businesses and consumers in the UK will have to adjust to the decision whichever way it goes. The UK Treasury warns a vote to exit would cause a year-long recession, but private sector economists doubt this. For consumers and businesses here in Australia and in other parts of the world, life will go on, they will continue to spend, invest, travel, trade and hire new workers, and no doubt they will start focussing on the next ‘event’ such as the US election in November.

-- Just watch for some 'red october' headline in few months. I predicted this here first
 
Market Profile Pic below.

Is this profile common for a market which is shifting higher or can this be viewed as 'divergence' (for lack of a better term) as the market moves higher with value areas having less trade?

My gut feel is its just a function of a natural bullish market (how can there be volume there if it hasn't traded there) but figured I'd ask the question.

 
All things considered I think the FTSE chart fought back pretty well compared to most.

Weak GBP assists exporters I guess?
 
cynic said:
My guess is central bank interventions.
Click to expand...

Nah, a weak GBP has to drive some interest in exporters....plus Carney hasn't allot left to be spending on equity market saves....

There are some interesting scenarios now....wish I had time to write and discuss....the GBP might not end up looking to bad as a reflection of choices in the eu region....
 
kid hustlr said:
All things considered I think the FTSE chart fought back pretty well compared to most.

Weak GBP assists exporters I guess?
Click to expand...

Yes it was a remarkable come back.... it came back to the point that it was not even a 3 day low. It felt like a no brainer short at ~6200 (I was asleep by then).

I think the UK market is in denial and still doesn't know what's hit it.

A LOT of trade and investments will freeze in the face of uncertainty. Who's going to put money into UK when the currency can have a 10-15% range in months, while accessible markets can potentially change from the whole EU to just UK (or even just England).

The numbers will start to show in the next quarter or two, and the market will price in a recession in good time.
 

Yep - Agreed we've still go to sell rallies but the turn around was quite significant. That being said with GBP -10% and FTSE -8%, overseas fund managers are getting stock a heck of a lot cheaper than they were 24 hours earlier. If they liked them then they must love them now!
 
mondays

Jason Goepfert ‏@sentimentrader Jun 24 said:
Of the 17 times the S&P futures or SPY gapped down 3%, the best results were from the open to 4 days later, up 14 times avg 6.5%.
Click to expand...
 
FTSE headline number can be deceptive.
It is a market that is dominated by defensive nature stocks. If you look at the financials in isoation and other sectors like materials you see plenty of double digit decemation.
 

Did you notice the SNB activity on that day?
 
cynic said:
Did you notice the SNB activity on that day?
Click to expand...

Yeah, i figured that and the Yen might attract some attention. The Yen might get some love this week. I don't expect much in the way of the GBP or equity markets tho...
 
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