Daytraders Profit From June Reallocation Programs

the 10:00 a.m. ET bar, and daytraders were given a bonus. The
(
SPY |
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out of a 12-bar range between 119.70 – 119.39 and made the intraday high at

120.92 on the 11:20 a.m. bar. The day was essentially over from the long side as

the SPY went sideways between 120.92 – 120.55 until the 2:40 p.m. sell programs

took the SPY down from 120.61 to 120.00 on just two bars. The SPY drifted up

into the 120.50 close (see chart). The SPX
(
$SPX.X |
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(
$COMPQ |
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(
$INDU |
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(
QQQQ |
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PowerRating), 38.37, each +0.8%. All of the primary sectors were green, led by

the XLE, +1.9%, while the XBD,
(
OIH |
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analysis needed or warranted. We are just pawns in the bigger game. Daytraders

got the bonus, provided you were ready for the reallocation June money getting

put to work. Programs are now more than 50% of total volume because there are so

many gutless mutual funds that are nothing more than quasi-index funds, yet

still expect you to pay their fees, including the rip-off 12B-1 fees. NYSE

volume was 1.4 billion shares with the volume ratio 78 and breadth +1562. Both

average (72mm), while the QQQQ volume, 111mm, was about 10% above average. Also

exceeding its average volume was the
(
DIA |
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average. The
(
SMH |
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share average. The energy sector was up for the sixth day of the past seven, led

by the XLE, +1.9%. This sector is a primary profit center for daytraders, and

there were multiple opportunities yesterday in individual energy stocks, as well

as the XLE and OIH. I have included a
(
DO |
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very basic, but highly profitable, Opening Reversal (OR) pattern, which had the

initial range filter with the 47.45 high and 47.22 low. When the Opening

Reversal is combined with contracted volatility, it is even a higher probability

setup. I have also included an
(
SLB |
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volatility pattern setup after the initial small gap-up opening bar. The

programs were the additional catalyst, and price accelerated to a 70.36 intraday

view regarding the current market risk factor, and suffice to say, any good

intraday short setups will be taken this week and kept if there is a sufficient