Friday, October 26, 2012

Early Indications

This is obviously not opening indications because there's simply too much emotion and volatility in early trade after the earnings and ES behavior, so I watched a bit longer, a couple of themes are emerging.

 DIA 1 min since yesterday's open is in line

 3 min since yesterday's open is leading positive in this area.

 The 10 min has seen a large leading positive move starting late yesterday and continuing this morning.

 QQQ 1 min is a little better than in line, especially with all the volatility.


 QQQ 3 min is in line

 And the 30 min still has a positive divergence large enough to create the upside move we have expected from this range.

 SPY 1 min was negative on the open, it is just starting to see its first positive of the day.

 The 2 min however is in line, it seems the opening volatility and 1 min negative didn't make it as far as the 2 min chart.

 The 15 min is also in a leading positive large enough to provide the upside move from this range.

 AAPL 1 min since yesterday's open is in a slight leading positive position.

The 5 min since last week's top is in a larger leading positive position in which I would normally expect a move higher from here, perhaps AAPL needed to break under that descending triangle on some volume.

 The Euro 1 in is in line since yesterday

The 5 min however since last week's top is leading positive in this range, again, enough to move it higher.

I'm still looking at different assets, I'll continue to update as things pop out, but this should give you a feel for where we are both short and a little longer term

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