Thursday, January 24, 2013

Market Update-A Pause

I'm pretty sure this is EUR/USD related, but if you are looking at entering positions, you might hold off for a little bit as you may get a better entry. So far the 1 min charts in 3 of 4 averages have a small 1 min positive which generally leads to at least a lateral consolidation.

Whether they can muster more than that for a counter trend move, we'll have to wait for the market to give us the signal. I suspect we will see that as it's still early and as I said, this isn't going to be an easy or predictable situation, plus the ES futures look a bit stronger on the 1 min.

 DIA

 QQQ short term daily signals and the longer term yellow -larger signal, like a head fake as it was above the resistance the Q's couldn't break through for over 2 weeks.

SPY 1

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