Thursday, September 13, 2012

A couple of charts

These are not the only charts by a long shot, they are just two that I think are extremely relevant.

 IWM 1 min is a fast responding time frame, the Russell 2000 or IWM is typically the leader of a risk on move.

 IWM 3 min hasn't done anything here and volume is not impressive and dropping.

The NYSE TICK chart is breaking below the uptrend channel since the F_O_M_C announcement and is sitting around $100. A serious break of the channel will likely lead to trend reversals in a lot of averages and stocks. Out of all the NYSE stocks at this point, there are only 100 more advancing than declining.

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