Friday, August 17, 2012

Opening Indications

Thus far the market hasn't moved with the typical FX (Currency) Legacy arbitrage correlation, but is not looking good.

 The SPY vs the Euro (red), you can see the market responding to the Euro's move up yesterday, now we have a pretty nasty move down, the market hasn't responded yet.

 The DIA 1 min is negative though into the open and longer.

 The DIA 3 min looks a lot like the Euro's 3C chart in a leading negative position fairly deep.

 The IWM chart is similar to the DIA 1 min

 The 3 min chart also negative through yesterday's ramp-fest and negative on the open.

 The QQQ close up looks to be perfectly in line, zoom out a little and you'll see the trend is much lower than price.

 QQQ 3 min like the other averages and Euro is leading negative

 SPY 2 min looks similar to the Euro also leading negative in a move that is much more volatile than recent moves.

The same for the 3 min chart. The 5 min charts should be catching up soon.

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