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We look at volspd slightly different, essentially calculate the breadth (%) from up and down volume. Here also I look for divergence at top and bottom to see a particular move is supported by breadth. The reality is internals will show conflicting signals most of the days, as a trader you have to read thru that and identify a workable scenario that has the highest probability as per your analysis and trade that. Trading is all about identifying these little nuances and capitalize on that.
The reason I wrote "crack spreads, etc" is that you are always talking about VOLSPD- and here immediately you went back to it... Just for kicks, try to not look at this for a week. I really feel like you place way too much weight on this and need to move past it as it could be hurting your read on the market instead of helping. I have never once even looked at it so I am certain you can trade without it
If I think about it you are right sir, because of my information confirmation mind I am leaning on it too much that's the reason why I missed the move overnight (also my previous losses contributed to it).
I've had days were I let internals keep me on the wrong side of the market all day- showing me glimmers of hope every so often only to be washed away little by little as the chart worked against me and one opportunity after another disappeared. Same with placing too much emphasis on correlations and other markets. I've learned that if price disagrees and is on its own path, don't fight it because of some alternative measure. If you just can't stand the conflicting information at the time, get flat and wait; Else, ride the trend.
Short's will be short lived when internal are not in-line damn...I should have know this better by now.
Shorted YM at 17020 before the drop and stupidly added another contract at 17962 (stupid stupid) thinking this is it, it's going to break down but it didn't so out scalping for 20 YM points.
Edit: If we can't beat it just join on the opposite side? but we are very near to inflection point to consider longs...
Edit: Joined the otherside, If this doesn't break by now, I guess they are waiting for ECB and also OIL is too strong....damn flipped again...stop in place walking away
We are in important congestion zones on both sides of the Atlantic, trading will ease when they shift, don't try to force it. Sometimes just taking a break or doing something as a diversion and then coming back in a few days is the best route.
When the entire range was taken out in 4 minutes and 20k contracts late this morning because oil retraced from 2SD to 1SD it seemed like writing on the wall- walk away or play VWAP band pinball as choke35 calls it
