Just a couple more thoughts now that I've ran the numbers and digested what took place.
Volume - A big negative today. It was average volume most of the day but really picked up that last hour on the selling that swamped the market. I've comment throughout this rally that volume would be a tell and that the tell was negative. Today was clearly a day of distribution as those who wanted out didn't wait for the best price to execute that decision.
Precious Metals - Something is up with the metals. They had a good reason to get crushed today but didn't. In fact, silver squeezed higher. Volume is not huge but respectable and something tells me that these markets are likely sniffing out something here. I'll be looking to get longer as a result.
Volume - A big negative today. It was average volume most of the day but really picked up that last hour on the selling that swamped the market. I've comment throughout this rally that volume would be a tell and that the tell was negative. Today was clearly a day of distribution as those who wanted out didn't wait for the best price to execute that decision.
Precious Metals - Something is up with the metals. They had a good reason to get crushed today but didn't. In fact, silver squeezed higher. Volume is not huge but respectable and something tells me that these markets are likely sniffing out something here. I'll be looking to get longer as a result.
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