Friday, December 9, 2011

The latest market move...

I don't trust it, not sure where it came from, but it is near the 3 p.m. rumor time. It kind of reminds me of yesterday's false breakout in AAPL.

 The 1 min chart didn't show any positive divergences so it seems to be a rumor or some kind of head fake.

 The 2 min chart would suggest that whatever it is, it's being shorted.

 As well as the 5 min chart.

 It wasn't financials as you can see

 It wasn't the market chasing the Euro

And while tech followed as well as energy, AAPL surely didn't which is a bit strange considering the weight there.

And ES isn't supportive in 3C either.


I'm going to pull up the risk assets, but I don't trust it.

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