Covid 19 crash saw huge volume on 20 straight days. While volume reflected on intraday time frames was higher than average, it was no way near as much as the cumulative daily volume shown on a Daily chart. Upon noticing similar thing happening in last 5 days, i dig it up a bit and found this, "Charts that utilize a periodicity of "Daily" will show a different quantity of Volume when compared to charts that utilize an intraday periodicty like 1 minute or 1 Day*. This is caused by the fact that certain types of trades, such as block trades, spread trades and market trades, are considered by the exchange when reporting the cumulative daily volume for a specific symbol or contract. However, those trades are not represented in the tick or 1-minute intraday data for the symbol. These trades together make up the difference observed between the daily volume and the sum of the intraday volume.".
Notice how the price is stuck between the high of the first day and low of the last of those huge volume days, surely not a coincidence. I have a theory but my knowledge is very limited. You can read more about block trades here www.investopedia.com...rms/b/blockorder.asp and try to make sense of things.
Current setup is very similar to the one prior to the covid 19 crash and the end of June. Accumulation observed on the intraday while big blocks reflected in cumulative daily volume. One crashed, the other rallied. Which one will it be this time? Pre covid setup came after distribution and a selloff whereas end of June was after accumulation and a rally.
I will be updating here during the rest of the week. Pls share your thoughts.
Notice how the price is stuck between the high of the first day and low of the last of those huge volume days, surely not a coincidence. I have a theory but my knowledge is very limited. You can read more about block trades here www.investopedia.com...rms/b/blockorder.asp and try to make sense of things.
Current setup is very similar to the one prior to the covid 19 crash and the end of June. Accumulation observed on the intraday while big blocks reflected in cumulative daily volume. One crashed, the other rallied. Which one will it be this time? Pre covid setup came after distribution and a selloff whereas end of June was after accumulation and a rally.
I will be updating here during the rest of the week. Pls share your thoughts.
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Selloff was expected but the timing and manner has been a bit odd. Thursday was setup for a selloff. Friday was setup nicely to close lower for gap down opening but none of that happened. Also no panic in the selloff so far.
Had 2 good short entries but both times exited prematurely.
Resistance will come in at 23875-900.
Strong support below at 23550. Gaps at 22900 and 21900.
Not in sync with the market at the moment so i am staying put.
Trade safe.
Had 2 good short entries but both times exited prematurely.
Resistance will come in at 23875-900.
Strong support below at 23550. Gaps at 22900 and 21900.
Not in sync with the market at the moment so i am staying put.
Trade safe.
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