Wednesday, September 30, 2009

Identifying Short-Term Momentum and Breakouts With Intraday New Highs/Lows

At 10:55 AM CT, 23 of my 40 stocks registered fresh five-minute highs as we broke to multi-minute highs. Note how that momentum carried us forward for the next several minutes.

1 comment:

OKL said...

Commodity strength continuing from overnight trading;

From 0815et to 0830et as the USD strengthened, commodities held their own.

As equities sold off from the open, commodities declined, but the USD didnt move a whole lot at all; relative to USD movement and Equity selloff, commodities were strong.

No surprise that commodities are leading the way higher.

I'm just wondering if there's some sort of asset re-allocation from the fund managers at this end of quarter period... out of equities and into treasuries and commodities?

And I'm pretty sure that the selling actually started BEFORE the 0945et report was released...