So Far, So Good

I'm referring to my earlier post, "What I'm looking for today and tomorrow"

 As you may recall from yesterday, the 3C market charts went pretty negative starting @ 2:45, today that has continued into the uptrend. As I said earlier in the linked post above, this is the behavior I'm expecting as none of the averages have put in that, "scary" break of the bear flag, except perhaps the DIA to some extent. Today is the first day the QQQ has broken out of the flag.

Here's the 5 min chart which is now leading negative. Next up, we want to see the 10 and 15 min charts move into similar position. At this point we have the common false breakout/shakeout of the market flags.

It can be done in one day, although I'd expect two days. We'll see how they continue to develop.

Keep an eye on FXE as it is sitting just above the support zone mentioned in the currencies update. The last move up in EUR/USD was very parabolic, so if that support breaks, it's likely to see a sharp drop.