Window Dressing at End of Quarter – Thursday 28 Mar 2013 (12:40)
Well, it looked like a classic Short setup on Thursday. Everything was in place:
- Exhaustion Buying then First Divergence (showing weaker buying)
- Then Flush Buying (flushing out the last of the buyers)
- With price exhaustion and a Pull Back to End of Trend sequence
- Then Amateur Buying into the highs (getting “wrong footed”)
- And all before the 11 am CST window for a reversal trade
The Emini then breaks Support on the 1,500 tick bar chart into a down trend. Looks good – except the break down is being led by the Amateurs and it’s the last trading day of the quarter.
The Professionals don’t want a sell-off on the last day of the quarter – they want good quarter performance numbers and don’t want to spook the general public into selling. So they step in at 11:30am with blue Professional bars on the 1,500 and 4,500 tick bar charts. And push the market up to close at new highs. Classic “window dressing” at the end of a quarter.
Good luck with your Emini trading.