|August 22nd, 2013, 03:28 PM||#1 (permalink)|
méxico df, méxico
Futures Experience: Intermediate
Platform: ninjatrader, multicharts
Broker/Data: demo so far
Favorite Futures: stocks, @nq, @es
Posts: 43 since Mar 2013
Thanks: 109 given, 21 received
from the end of july through all of august so far, i came to know of the summer doldrums the hard way.
there's very little price action across the board, and almost no volume, even for the most traded symbols. for someone like me, who hunts for keltner channel breakthroughs, it has been a very bad time, price actually bounces back inside off the channel.
now, i did a little research and learned of the term - summer doldrums - which explains everything that has been observed in these past weeks, and also learned that after labor day normalcy resumes and typically there's volume again. but, in this particular year, with the indices up almost 20% and at all-time highs (and with other crucial factors weighing in like the fed exiting stage left) i am thinking a lot of players might just sit over their hands for the remaining months and keep their paper gains. what do you think? and more importantly, how would you tell whether the summer doldrums are over?
thanks, best of luck,