Friday, October 5, 2012

Opening Indications

Still very interesting, the only average to really confirm on the open was the IWM / Russell 2k, although the DIA was close as well as least on the 1 min.

To see how these charts develop today and in coming days is going to be fascinating, the minutes "may" have been more important than the policy action itself.

 DIA 1 min close enough for confirmation of the open...

 The damage however from yesterday was stronger than any opening move thus far so no confirmation there.

 The 5 min DIA damage from yesterday, note that almost all of the damage is after the 2 pm minutes were released.

 The IWM 1 min confirming perfectly on the open.

 Yet again though the 2 min chart didn't have enough underlying action to confirm.

The 10 min chart is in line in the IWM and therefore will be the one I'm most interested in today.


 QQQ 1 min didn't confirm the open.

 Nor id the 2 min that went negative on the afternoon failed rally attempt.

 The 10 min QQQ is starting to deteriorate, I'll be interested to see if this one keeps up as well.

 SPY 1 min with zero opening confirmation.

 2 min chart with damage starting around the 2 pm release yesterday of the minutes.

The 5 min chart in the SPY and ES futures were both negative.

Today could be very interesting as far as a totally new dynamic in the market.

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