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DELTA DIVERGENCE BOTTOM
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DELTA DIVERGENCE BOTTOM

  #1 (permalink)
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DELTA DIVERGENCE BOTTOM

Here's a delta divergence that marks a swing bottom, i.e., a new low, but positive cumulative delta. The new low also finds support at the top of value (yellow dotted line) adding significance to that level.

Rally is short-lived , as the market rallied back to the VWAP, failed, and made new lows. However, another delta divergence was evident on the range extension with a much longer bar and larger attendant cumulative delta on the following bar, suggesting it may have more legs this time.

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DELTA DIVERGENCE BOTTOM-delta.jpg   DELTA DIVERGENCE BOTTOM-md2.jpg  

Last edited by tigertrader; October 28th, 2010 at 03:46 PM.
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That was a good sell off for a POMO day.

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Looks like they are pricing the pomo's the day before...kind of a buy the rumor, sell the fact reaction, today

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I agree, yesterday afternoon and the overnight session looked to be doing just that.

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Today's POMO closed at a very light $1.66 billion, leading to a whopping 23.6x Submitted to Accepted ratio (on a massive $39.2 billion in submitted indications), which as we presented yesterday historically indicates a very weak outcome as the Primary Dealers will not be able to satisfy risk frontrunning capital requirements. And, as expected, the only two CUSIPS executed on, were within the list presented, with the 3/15/2013 receiving 70% of the take down. Overall a very weak POMO and one which would validate the current weak market action.
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OK, now that makes sense. Pretty interesting jam the Fed is in now. TF making new lows as we speak.

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