There's a lot I still want to get to, AAPL, Risk Asset Layout, several stocks and industry groups and hopefully future and Currencies. AAPL is falling apart quickly, I'm not referring to price.
A quick look at the majors...
DIA 1 min close up intraday note the series of tweaks that have kept the DIA right along the area of yesterday's close (seen as a thin light blue line). Again it looks like an op-ex peg.
DIA 1 min trend for the last couple of days, there's a recurrent theme among the averages, Sept 17th -18th accumulation, in to Sept 19th distribution at the highs. The 1 min chart is in a leading negative divergence on the trend view and this is all post QE3 so it's all new data.
2 min DIa from Wed. negative divergence at the close to what in effect is just in line movement yesterday and part of today, other than the neg. divergence late on the 19th, the current leading negative are the only 2 that stand out. Remember we don't want to torture the chart to find a signal, either it is obvious or not.
DIA 3 min from QE3 shows the trend I mentioned among the averages, accumulation on the 17th, distribution late yesterday (19th) and this chart shows a clear leading negative divergence.
5 min distribution on 19th and in line, no significant divergences here although recently it's starting to lead a bit negative.
IWM 2 min shows the positive on 17/18th and is basically in line since, no divergence stands out.
3 min from the 13th-QE3 with that same trend of accumulation on 17/18th, distribution Thursday afternoon and currently 3C is in a leading negative position.
IWM 5 min shows the same trend mentioned on the 17th, then in to the 19th, in line most of yesterday and some subtle weakness here.
Divergences can accrue on longer term timeframes, what doesn't appear obvious on a 1 min chart or 2, 3 min chart can accrue as the divergences take on a trend that you might not otherwise notice, especially if the underlying action is very secretive, meaning very quiet, remember there are a whole class of HFTs that do nothing but hunt for "Icebergs", big institutional orders being filled and then they front run them costing the institution a lot of money, sort of like when day traders use to try to scalp in front of a market maker, but much faster. In any case this 10 min leading negative is interesting when looking at the QQQ
QQQ 1 min, we can find divergences, but overall, this is in line the last 2 days.
2 min negative in to Thursday's close and a series of slight tweaks today keeping the Q's very close to the close yesterday.
3 min QQQ , the same trend mentioned at the start of the post is evident here, 17th accumulation, 19th distribution, yesterday largely in line, today a leading negative position.
5 min chart with the exact same as above
QQQ 5 min close up, note small divergences keeping Q's close to yesterday's close, yesterday I thought an op-ex pin would be the theme and many traders are already closing or have closed out their option positions today.
Remember the IWM 10 min, take a look at the QQQ 10 min.
AAPL next
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