Wednesday, March 18, 2009

Market Notes as of close 18 Mar

Dollar extreme liquidation post FOMC from previous demand cluster (26-26.20)- potential auction to longer term demand below (at/near 24.64-24.97)- Value Area Lower

USO opening range sell auction- closing range post FOMC Dollar destruction- rally to supply on declining Volume and Open Interest- Value Area Lower 

SPY/IWM consolidation in opening range- rally into FOMC and range extension post FOMC- Value Area Higher 

10Yr Bond up auction in opening range from long term demand (120)- rally into FOMC followed by extreme breakout to upside on Fed news- Bear Potential below 120 OVER in near term- Value Area Higher 

NYA (NYSE Composite Volume) 9 Billion
IWM Volume 101 Million** (Potential Exhaustion Volume) 
Russell 2000 Call/Put Flow= $31,251.09 (net calls) 
($-251,976.78) daily put bias
USO Volume 26.5 Million (Decreasing)
USO Call/Put Flow= $64,776.80 (net calls)
($27,541.39) daily call bias

"Challenge and opportunity always come together; under certain circumstances, one could be transformed into the other"
- Chinese President Hu Jintao-