Interesting Start....

Yesterday I showed you some charts of BAC that suggested some accumulation. 


This morning it was difficult to reconcile their miss with those charts in pre-market, but as the market opened, take a look at BAC.

So for whatever reason, 3C called it right as I'm sure those shares are probably under distribution right now into the opening strength.


I also showed some charts of the market seemingly under accumulation, in pre market the market was down, then came the CPI report and lifted most of the market to a gap up. Interesting. That's the thing about 3C, it shows us underlying action in the market that you could not gather from price and volume, but it can't tell us "why" so we can only speculate, but the speculation isn't even that important. I remind you of the Wall Street maxim, "Do you want to be right or make money?"


So thus far 3C has been right, for reasons or assumptions that were wrong. This is now the 4th major earnings that 3C has been correct on the underlying action, AA, JPM, HAS, GOOG and now BAC; 4 for 4-not too bad.


The market is dipping now so I'm going to take a look.