Monday, January 7, 2013

Intraday Market Update

I've been arguing for a move back above Friday's late afternoon breakout, the entire point of the breakout cannot be fulfilled in 30 mins. at the end of Friday, the intraday short term charts are now even more positive then they were and I think the move happens, but past 1 min charts no strength has developed in other charts, that means any move up is a manipulated move, there's no real strength behind it and this is where I really want to watch for places to add positions and for a fast reversal when it comes.

Here are the intraday charts, all 1 min because there's not even 1 2 min positive chart.
 SPY 1 min stronger leading positive

 NASDAQ Futures 1 min starting to lead positive

QQQ 1 min leading positive at a stronger, higher high. This should move the market up, but it's  deceptive move and a gift for us.

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