Tuesday, March 20, 2012

Market Update

Thus far it has kind of been a dull gap fill day and dull days always have me on the tip of my toes. The underlying action is somewhat mixed...

 The DIA still appears to be the weakest even though it's made an attempt to fill the gap as I suspected earlier, this market seems to leave no gaps open.

 The IWM 5 min chart is a pretty good example of the overall action, it's leading negative as far as the more important underlying action, but within that there's a relative positive divergence as if it wants to fill the gap.

 The 2 min QQQ are starting to get ahead of itself it looks like as it has filled the gap.

And the SPY is in line on the 2 min still trying to fill the gap.

Volatility has picked up a bit as we come in to the afternoon closing trade so I'm a little on my toes looking for that signal.

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