Earlier today I showed you charts that were pretty much across the board suggesting trend #1 (the pop) which almost certainly seems to be tied to the announcement of a deal, should happen and likely will happen fast and will reverse fast (my gut feeling is the reversal will be on the thought that it took so long to get this done and the Debt Ceiling is next- perhaps we even face a downgrade based on Congress's inability to work together as was the reasoning for the last downgrade also on the debt ceiling).
However in terms of timing and intraday signals, the market is showing no bias that I can ferret out no matter where I look, sure I can find hints, but nothing solid that I would consider high probability, this is one of those VERY RARE occasions in which (as I pointed out recently as we had another on the Boehner plan "B" vote), that the market seems to have no inside track, no inside line on when, how or what is coming and as such, they aren't making any moves.
I'll use the Q's as an example, but nearly every average, industry group and important stock look exactly the same. Try to concentrate on the area from around noon to the press conference (in yellow) and note how 3C and price are almost exactly the same, this is where the market really went TOTALLY indecisive.
15 min.
Obviously, any strong move that diverges away from price is likely going to be a strong signal that someone knows something, so I'll be watching for that as it will give us an early heads up and depending on what it is, should give us a huge advantage over the crowd as once Wall St. figures out which way to go, it will take them a little time to position which we can use.
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