Wednesday, February 6, 2013

Now We See a Little Momentum

It's sporadic and largely due to AAPL, but it's there and on the short term charts. The ideal situation would be to see this early price momentum build with the longer 3C charts (intraday length) refuse to add any strength, this would set up a nice shorting scenario and perhaps tell us more about the consensus of Wall St. re: the ECB possible Rate Cut tomorrow.

The QQQ is where the momentum is concentrated due to AAPL...
 The 1 min chart came alive and the Q's went green.

Weakness is still present on the 5 min chart, I'd like to see this deteriorate more in to some price upside today, at least the first half of the day.

We'll take a bigger look at AAPL as well.

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