A little pop and drop in the Qs today as the pivots did a perfect flip flop of yesterday. I don't make these numbers up, the pivots are based on the previous day's high, low and close. After the market's open at R1 and the first 2 hour weakness, I thought the Qs might find a landing at the pivot PP, although at the time it sure seemed a long ways away. The rally for the next 2 hours made PP look unlikely and I closed my long put position. Big mistake. The TICK readings should have warned against that move, but the TICK hasn't been all that reliable lately as the algorithmic traders seem to have figured out not only how to cloak volume, but also momentum. Everyone was waiting around with 1 hour to go, unsure which way the market would break. After a couple of the usual head fakes the high volume surge into the close was all down although the TICK somehow showed buying momentum.. It's enough to give me a headache and I have to spend some more time over at TraderFeed getting an attitude adjustment compliments of Dr. Brett before the markets drive me to distraction. Life's too short to get worked up about this stuff.
Here in beautiful Southern California it's a crystal clear sky and a balmy 80 degrees at the beach; the dudes and dudettes are hanging ten on some righteous curls and the blood red sunset was close to a religious experience. Company's always welcome.