Wednesday, September 5, 2012

Opening Indications

There are really only two areas of interest on the opening indications, of course all of the data can be put to use, but the R2K/IWM was of particular interest on a closing basis so it is of interest on the open and again the flight to safety trade in Treasuries thus far...

Tech, Energy and Financials all have weak opening charts.

 DIA 1 min is perfectly in line, no interest.

 2 min like all of the other averages show the 11 a.m. positive divergence posted yesterday around 11:15, a negative on the open.

 This is the IWM, this 1 min is negative on the open, this was the last of the averages that hadn't broken above a clear resistance level until yesterday and was the only to close green yesterday.

 IWM 2 min neg. on the open.

 QQQ 1 min w/ yesterday's 11 am-ish positive, negative on the open as is Tech.

 2 min showing the same.

 SPY 1 min showing roughly the same, Financials are negative on the open as well.

 SPY 2 min w/ the a.m. positive from yesterday posted and a negative open.

 Again the flight to safety trade is acting as if there's a risk off rotation, positive on the open.

2 min with an even stronger positive opening.

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