Wednesday, August 15, 2012

Quick Opening Indications Update

Normally I'd post all of the charts, but I want to get this out quick. Below are the SPY 1, 2 and 5 min charts, most every average looks or has the same theme, the DIA is a little stronger which may be due to some rotation or just an anomaly, it's not that big of a difference. On the open on 1 min charts there was a positive divergence and thus we saw the early move up, that DID NOT migrate to longer term intraday charts like 2 or 3 min charts, which are mostly all still negative and not looking good.

Basically we have a mushy market right now, but there's no underlying strength thus far at all behind the open.


 SPY 1 min

 SPY 2 min

SPY 5 min

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