Daily look at the market on close imbalance for March 18th 2021.
The arrows show the time and price of buy and sell program trades going into the closing hours of the market on close trades. To understand more about them read the daily SpyGate post.
Market on close imbalance for the Nasdaq and NYSE closing auction was a -2.5B for both the Nasdaq and the NYSE combined. Early data indicated a market on close imbanace of a sell. Price movement confirmed an right at 14:00 ET when sell programs lit SpyGate and fired continuously until 14:40. The early sell-off muted the response to the market on close imbalance 15:50 reveal. Price action on the $2.5B sell imbalance led to an up-side bounce into the close. The downside was already traded out of the market earlier based on the early data. As Scotty would say, “There’s not more downside to give captain”. During the final 5 minutes the market on close imbalances paired off and the markets bounced upside.
The champion of the day was our SpyGate tape sniffer, correctly calling the sell from 14:40 down. Read our daily SpyGate report for March 19, 2021 to get more insight.
I have been working on some tutorial videos that I plan to have next week and available in this daily post. Stay Tuned.
If you are interested in joining our trading community and gaining access to our opening and closing data as well as our developing tape sniffing products head here: https://mrtopstep.com/l/mim
Don’t trade the market cash Open and Close without some type of insight. At least understand what is mechanically happening at 8:00 to 9:30 am ET and 14:00 to 16:15. These are very volatile trading windows. See you in the room:
Marlin
