Friday, August 27, 2010

Extreme big battle and buy volume in SPX Financials - RIFIN short update

Dear my Readers,

Thanks a lot for your comments and reactions. I promise I'll answer your comments later.
As you could see they made the scenario I sketched pushing SPX under 1040. Everything happened in 3 minutes.  I'll analyze that in few days.

As per moment (3 pm.) there is a huge battle between bears and bulls, in financials. Nothing is stable. As per moment selling volume does not want to eliminate, they keep on so bulls had to advance extremely fast upward to have positive price effect. You can see this internal fight if you check today's 60-min volume chart on $RIFIN.
Can you see? That happens only  8-10 times a year intraday. Smarts fight, and PPT is in with full power. Maybe it won't be enough, they run out of time.

Update (EST 3.10 pm) : Bears giving up battle on R3K.
Update (EST 3.35 pm) : RIFIN battle won by bulls.

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