Thursday, October 11, 2012

Market Update

There seems to be a lot of gap filling going on today, but I think this is more about AAPL than anything else. This post from earlier today though is by far the most important, Futures update , everything else is short term tactical stuff or noise. On to the noise...

 IWM 5 min is already in place as in a positive position, it didn't quite fill any gaps, but close enough.
The change in character from the negative divergence sending the market lower and confirmation (green arrow) to the leading positive is important, still the futures timeframes are all the stronger.

 NASDAQ 1 min intraday saw a positive at the same area as the AAPL stop run. Still the 1 min chart isn't showing anything like the futures 5, 15, and 30 min charts seen in the link above.

 QQQ 5 min like the IWM 5 min is also showing a significant change in character, we did get a gap fill here.

 The reaction of the QQQ 1 min around the AAPL stop run, there were positives in place earlier, but nothing like that leading positive at the stop run in AAPL.

 ES 1 min futures, again it is positive, but the real story is in the earlier post linked above on the more important 5, 15 and 30 min ES charts.

SPY 10 min in place and a large change in character, the 1 min isn't showing anything spectacular yet, maybe it will fill the gap?

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