Thursday, July 26, 2012

Other Averages

Without wasting too much time capturing charts, the SPY is still on the negative trajectory seen in the last update.

The DIA is mixed, similar to the IWM, the 15 min chart is very solidly negative, I mention this because this takes out a lot of noise and reveals the stronger trend that is underlying all the monkey business.

The QQQ is mixed as well, not the real positive migration we'd like to see in a long position, again the 15 min chart is solidly negative. I believe we are close to that reversal and back to the trend. I feel fine with having opened the FAZ position today.

No comments: