We are building volume in the 1119/1120 area of the ES futures (above), with most trade above the volume-weighted average price; more stocks up from their open than down (27 to 13 in my basket); but no real strength in Cumulative Delta. Relative volume continues below average, and that leads to slower, narrower markets. NYSE TICK continues positive, and we've seen continued outperformance by the Russell 2000 and NASDAQ issues. Altogether, we're consolidating after a bull move, but most market dynamics remain bullish--particularly in the broad market.
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4 comments:
March 3rd? Should I wait until tomorrow to read this then? :-)
Thanks to you, Brett, I used the NYSE $Tick and BuySellVolume (as a substitute for Market Delta on NinjaTrader) this morning for the first time. It fits so nicely with the methodology I already have!! I was 5 for 5 today (1 scratch) mostly thanks to very timely exits afforded by these.
That is really great deal of information you are sharing with us. Thanks for that. Would you elaborate on how can we benefit from the market delta to identify any set ups ?
It's interesting, I'm getting similar 30-minute volume values but very different net delta values on my footprint chart; I'm using a different data feed and Market Delta says there can be some differences in the results across data feeds...my chart is showing significant net positive delta today vs. yours. FYI.
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