Friday's Auction
via The Daily
As noted in Fri's analysis, focus on
continued development of Balance into Mon's auction did not unfold as the
expected rotation lower toward the Key Structural Stopping Point Low, 46.80s,
failed to illicit responsive buying interest. Selling interest entered at/near
the low, driving price toward the Avg Daily Range Low, Focus on response to
Mon's undefined support, 46.07s, into Tue's auction.
Noted here is the initiative sell programs (ISP) during during the Lonon auction at/near 47.15s-47.05, the Low. Downside expectations provided were, 46.29s (Avg Daily Range Low), 45.44s (Daily 1st Std Dev Low). The expectation for price discovery lower was noted within the context of the Gap Lower open, implying asymmetric potential for lower prices based on the market generated data. The market ultimately traded to 45.90s, near the Avg Daily Range Low.
Noted here is the initiative sell programs (ISP) during during the Lonon auction at/near 47.15s-47.05, the Low. Downside expectations provided were, 46.29s (Avg Daily Range Low), 45.44s (Daily 1st Std Dev Low). The expectation for price discovery lower was noted within the context of the Gap Lower open, implying asymmetric potential for lower prices based on the market generated data. The market ultimately traded to 45.90s, near the Avg Daily Range Low.