Wednesday, May 16, 2012

Market Update

This volatility is making an absolute mess. However the Euro is still holding within its range, UUP is still doing what it was doing yesterday...

 2 min intraday

5 min today

The flight to safety trade, TLT looks like this...
 TLT intraday 1 min saw a parabolic move up, the only reason I can see for that is to possibly set up a head fake bull trap as 3C in divergent in to the move.

The longer term 15 min trend is negative and you can see the move above yesterday's close.

The SPY/DIA are still within the range area, almost flat on the day, the DIA is up a bit.

I'm sticking with the same positions, the same near term opinion and of course the big picture hasn't changed a bit.

Still looking at a ton of charts.

I'd love to look at the Risk Asset Layout, but there's not time before the close.

Quick look at the SPY...
 This intraday chart of the SPY (2 min) is valuable to me as it has been in line with price almost all day, at a lower low 3C is higher and for the first time on this timeframe, it's moving positive.



The next timeframe (3 min) has stayed in a leading positive area as the SPY broke intraday support.

I'll be posting more charts as they pop up, but I don't see enough to shift my opinion considering the volatility today of the minutes.


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