Do you find any significance in the monster positive delta at the top of the M period spike? It was something like 10k positive delta in just a few minutes with no follow-through, including after RTH close and market reopen. I don't remember seeing something quite like that before. It looked like five ticks of icebergs in a row reloading when it happened.
Thank you! It was a very interesting bar, which was then rejected in after-hours trading. It’s always hard to know the true intent behind that kind of activity, but my main takeaway is that it was a great area for booking longs (i.e. passive selling), while being an unfavorable location for aggressive buyers, so I’m not surprised the auction has temporarily moved away from that area to the downside.
I was wondering if some of that was maybe related to the $1.2bn buy-side MOC imbalance on the S&P too?
The timing of it, huge positive delta & then basically no real follow through after which looked more flow driven than true acceptance higher. The AH rejection afterwards made it even more interesting.
Amazing work
Thanks for the professional support
Thanks a lot, Smash!
Do you find any significance in the monster positive delta at the top of the M period spike? It was something like 10k positive delta in just a few minutes with no follow-through, including after RTH close and market reopen. I don't remember seeing something quite like that before. It looked like five ticks of icebergs in a row reloading when it happened.
Thanks as always for your excellent analysis.
Thank you! It was a very interesting bar, which was then rejected in after-hours trading. It’s always hard to know the true intent behind that kind of activity, but my main takeaway is that it was a great area for booking longs (i.e. passive selling), while being an unfavorable location for aggressive buyers, so I’m not surprised the auction has temporarily moved away from that area to the downside.
I was wondering if some of that was maybe related to the $1.2bn buy-side MOC imbalance on the S&P too?
The timing of it, huge positive delta & then basically no real follow through after which looked more flow driven than true acceptance higher. The AH rejection afterwards made it even more interesting.
Thank you so much Smash!
🤝
how do you come up with upside targets with them also being new aths ? thx!
Stay disciplined. Thanks for this reminder, great work as always, have a great session!