Friday, May 27, 2011

Market Update

 DIA 1-there's been a little positive action recently on the 1 min chart

 The 5 min is still looking really bad

 QQQ 1 has also shown some recent improvement, but

 again, the 5 min continues to look bad.

 The SPY has shown the most improvement on a 1 min chart

But still looks very bad of the 5 min.

My take is that intraday we may see some upside, but if these 1 min charts don't improve more and start effecting the 5 min charts, I'd except to see a gap down on Monday morning.

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