As far as yesterday's closing divergences I thought and hoped we'd see early strength with an afternoon fade, that has pretty much happened, the analysis seems to be correct for today, but it isn't really creating much movement or openings except in existing positions from last week.
It's pretty difficult to say what happens with the German High Court although they are expected to let the ESM stand, it remains to be seen what portions they may strike down. AAPL is another event altogether. Despite intraday price action, I see nothing that suggests AAPL hasn't been building today.
On the other side of the coin, looking at this 30 minute chart, I don't see any reason why the probabilities wouldn't be strongest shorting AAPL in to any strength. The two charts above, 1 shorter term, but still fairly powerful and the second longer term and very ugly, give AAPL the look of a "Sell the news" or in this case, release of the I phone 5.
The other average that has been building today and the worst performer (although the performance is negligible), directly linked to AAPL, the NASDAQ 100.
Just putting the pieces together, it looks like a tech led bounce in to tomorrow, that's the movement we need to enter new positions as I have been saying I'd hold off on AAPL puts unless we get some price strength and underlying weakness.
Looking at this from the smart money side of things as we try to trade along side their actions, I'd want to accumulate AAPL/QQQ at the cheapest prices too, even if it is only to push them up to sell in to them. So I see nothing inconsistent with the charts above and the general theory laid out.
I do want to tae one last look around and see if anything stands in the way of that theory, but as of now, it seems like the most likely outcome.
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