Tuesday's Auction
As noted in Tue's analysis, focus on
response to Tue's NY Selling Tail, 54.15s-53.70s, Key Structural Resistance,
was key in Wed's auction as selling interest drove price lower from the Selling
Tail, achieving the Stopping Point Low, 52.50s, at/near Tue's Buy Program
Support. Focus on response to 52.50s into Thu's auction.
Wednesday's Micro-Blog Excerpt I
via The Daily
Noted here (highlighted in yellow) during Wed's NY auction was the rejection of the low, 52.66s, with responsive buy programs (RBP), 52.70s-52.85s, forming a potential Structural Buying Tail, 52.70s-53.10s. The initiative buy programs (IBP), 53s-53.10s, drove price higher, confirming the Buying Tail, implying potential for price discovery higher based on market structure. Ultimately, the market traded toward 54s, at/near the London High before the end of this buyside phase of market development.
Wednesday's Micro-Blog Excerpt II
via The Daily
Noted here (again highlighted in yellow), was the emergence of responsive sell programs (RSP) at/near the high, 53.85s, followed by narrow VWAP algo balance before initaitive sell programs (ISP) entered at/near 53.60s-53.55s, driving price lower through the range, filling in the prior Buying Tail. We noted the filling in of the Buying Tail implied the potential for price discovery lower based on market structure. Ultimately, this probability path unfolded following the Globex reopen toward our Avg Daily Range Expectation Area, 50.80s.
Wednesday's Micro-Blog Excerpt I
via The Daily
Noted here (highlighted in yellow) during Wed's NY auction was the rejection of the low, 52.66s, with responsive buy programs (RBP), 52.70s-52.85s, forming a potential Structural Buying Tail, 52.70s-53.10s. The initiative buy programs (IBP), 53s-53.10s, drove price higher, confirming the Buying Tail, implying potential for price discovery higher based on market structure. Ultimately, the market traded toward 54s, at/near the London High before the end of this buyside phase of market development.
via The Daily
Noted here (again highlighted in yellow), was the emergence of responsive sell programs (RSP) at/near the high, 53.85s, followed by narrow VWAP algo balance before initaitive sell programs (ISP) entered at/near 53.60s-53.55s, driving price lower through the range, filling in the prior Buying Tail. We noted the filling in of the Buying Tail implied the potential for price discovery lower based on market structure. Ultimately, this probability path unfolded following the Globex reopen toward our Avg Daily Range Expectation Area, 50.80s.
Wednesday's Auction
via The Daily