Why = BUY ALERT =? Reply to deleted post
Technicals were developed at a time before the time of algor trading. If a Tute contracts an algor computer to sell ZN, within a given VWAP range then that is what it does. It's not looking at cup&handle, triangles, or death crosses. It's pure numeric. It may assign a weight to MA, or money flow in/out. Butt it's not interested in dead cat bounces, rounding bottoms, or other catch terms from phrases developed in the 1950s onward. More interesting will be what it sees in the order book for the stock.
The only reason I bring up the subject of algor trading is the fact ZN is a low weight component of the Russell 2000. A company under investigation by the SEC, and extremely likely to be tossed from the Russell 2000 next May. Leading up to that the Tutes, especially those who are not uber large will be wanting out. They don't sit in front of a computer like retail all day. They tell a computer what to do bee it buy/sell.
Watch for heavy volume periods after a PPS spike, where it holds for a few minutes. That's the slow selling into the rip. After it comes back down, volume will go back to the previous level. Doesn't matter what the charts are saying.
Of course at some point the volume attributed to the Tutes will die out. Then one will have a low volume stock, where a half dozen penny traders can make the technicals very erratic. Indeed GLTA.
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