Tuesday, September 4, 2012

And there goes that intraday move

About an hour an 15 mins. ago I warned you or gave you a heads up if you wanted to trade it, that the market would see an intraday move higher, 3C on the NASDAQ futures, QQQ and a few other averages. Since then several others have built in, I still see it as a volatility move, there's not much supporting it.

Case in point...
 This is one of the charts showing the intraday move up...

The QQQ at the time of the post...
This is the time of the post...

The NASDAQ Futures 5 min 3C chart as shown this morning with a really bad leading negative divergence. This is what I mean when I say there's no support for this move beyond the 1 min chart, an intraday timeframe.

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