I'm looking at this with a different pair of glasses, as a trader. With the move in the market today, any kind of fade of that move and I'm using the leveraged ETFs so that's what I'm taking a look at.
SDOW-Short the DOW 1 min
SDOW 5 min
UDOW Long the DOW 1 min
UDOW 5 min.
SDS short the S&P 1 min
SDS 5 min
UPRO long the S&P 1 min-the server repeatedly rejected the 5 min chart, but it's in line with price.
SQQQ short the QQQ 1 min
SQQQ short the Q's 5 min
TQQQ long the Q's 1 min
TQQQ long the Q's 5 min.
It looks like there's going to be a fade of today's move down thus far judging by the leveraged ETFs that are most likely going to be used by traders.
The TICK charts trend has been surprisingly lateral, although most of the action has been below the 0 line in white.
As for the normal ETFs usually use, the DOW by far looks the best.
DIA 1 min
DIA 5 min.
A lot of stops were hit today, were they accumulated? It's looking that way.
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