Thursday, October 4, 2012

Market Charts

It's still relatively early in the day to be predicting the close, but this action doesn't look very good in the averages.

 DIA out to 5 min leading negative

 15 min is even not quite at confirmation.

 The 30 min chart is. I have to wonder if this is just some near term pullback or if we keep moving through the timeframes with this negative stance on the shorter timeframes.

 QQQ 5 min leading negative pretty bad for half a day of trade.

 The 30 min chart is still in line.

 SPY 3 min leading negative

The 10 min chart is almost in line, a little weakness on that last move up intraday

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