Opening Indications

Oh my lord, volume is abysmal. I know there are still a lot of Wall St. folk on vacation or playing hooky, but this is insanely low. It really wouldn't take much to create some crazy volatility.

The reasons why I liked a short term Call trade in the SPY or any other market average is still there, the reasons for it being a short term trade idea are also still there. There's not much in the opening indications, it's the signals from earlier that were the basis of both lines of thought.

SPY

 Opening 1 min chart is pretty boring, not much here indicating the market should do much more than it's doing, but, zoom out the same 1 min chart and you have the reason for Monday's Call position (as a short term trade idea).

 There's the same chart zoomed out in which the 1 min SPY is in leading positive position.

 Move to a longer, more important 3 min chart and here's the reason the trade idea was for a "Short term trade", there isn't a lot of support there, it looks like maybe a gap fill (plus some?) and that's about it for now.

 The longer term 10 min chart, picking up on the Nov. 16th start of this move still has the more important leading negative divergence, suggesting that the market still owes some downside.

DIA

 1 min chart this morning is the same...

 Zoom out the 1 min to the trend, also the same, a leading positive divergence, but only on the short term intraday chart/s.

QQQ

 Again the opening indication is boring, not much to get excited about at all.

 However the short term 1 min trend is still leading positive, hinting at a gap fill (at least) in the short term.

Move out just a bit further to a 2 min chart and there's not much behind the move as it is in line.

This is why I liked a short term leveraged long, but SHORT TERM.