RE:Volume pushed over Daily Avg on Nasdaq sideVolume 34,695,210 Avg. Volume 18,322,641 I noticed the ultra algos gave a bear SHORT Signal quickly off the Open this morning. Then literally 16 minutes later the ultra algos flagged a BUY Signal just above $10.40 USD.
Usually the ultra algos signals have had a much wider spread between the two very different signals. The spread is usually much wider not only in dollar value but also in time. Quite often there will be 3 or 4 or more days apart from each signal type.
With only 16 minutes between signals played out for somewhat of a bizarro day. Haven't seen such a quick signal change like that which turned into a morning bear trap. However tomorrow is another day, do we break the Friday trend tomorrow or another par for the course.
eom
momo
CommonCentsforDollars wrote:
Volume 21,969,808
Avg. Volume 18,322,641
I expect a good portion of this surge in Volume is short covering. Short position is huge so they need to be covering some of that off.
There was also a gap $10 USD to $13 USD. Fintwit had been talking about it for a few months. We have been in that gap zone now for nearly a month. Bottom of the gap fill came today. Although it could be a bit of a struggle to get up through resistance and back over $13 USD I would say based on the lack-luster Q report. Need to see some solid sector catalyst's.