Thursday, May 07, 2009

Quick Look at a Market Break

Here we see the number of trades from large traders displayed in each 30-minute bar as a separate "market profile". We see the movement of price away from the value area we had formed around ES 925-926 and then a building of volume at successively lower levels, as a preponderance of volume has been hitting bids (bottom histogram). Note how NQ has broken multi-day lows, as the growth theme that had lifted stocks has faltered.