Treasuries, which can probably be excused for not knowing how to behave (especially Monday) in front of the F_O_M_C tomorrow. Being they didn't seem to know what to do on Monday, I wouldn't expect they would make any significant moves until after tomorrow, but there's some confirmation building in TLT finally that is very much along the line of the market averages.
One thing I'm concerned about and is keeping me very busy, is what is happening everywhere else as AAPL provides a convenient distraction? That question is answered or beginning to find an answer in at least one asset class and the answer is very much in line with a flight to safety, how convenient, on AAPL's release of the I-Phone 5, an assumed risk on day, there's flow toward safe haven Treasuries, BUT ONLY after they filled the 8/22 gap today.
The DIA's 2 day triangle is going to catch some attention, other averages are showing a similar price formation. We know that this will almost certainly (and probably soon) lead to a very directional move. I'd like to be able to pinpoint that move, but the more important question is what that move ultimately brings. For this timeframe, a 5 min chart is nearly a perfect fit.
DIA 5 min has added to the leading negative move. This does not rule out the typical pre-reversal head fake breakout as that is what the triangle signifies for technical traders, a bullish continuation pattern.
The QQQ 5 min
And SPY 10 min-all very similar.
Finally TLT seems to have made a change in character that fits with the charts above.
Now to see what else is going on while AAPL captivates...
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