AAPL / NDX

As mentioned in the last post, AAPL's short term chart looks like it can be supportive of the NDX intraday, I don't see it as much more than that. This looks like a lever that's being tried to see if they can move the market a bit out of this kind of deadlock. Even as I type this there's a lot of what I'd call deadlock that can be seen in the futures intraday chart as 3C bounces around, it can be seen in the TICK and a few other places such as Treasuries.

AAPL is used as a lever because it has by far the most weight on the NDX, it accounts for approximately the same as the bottom 50 weighted NASDAQ 100 stocks combined.

 AAPL 1 min positive this morning.

 AAPL 2 min, this is positive, but hardly inspiring.

 The 5 min chart is almost perfectly in line, there's really nothing to be seen here when it comes to longer term indications other than 3C is moving with AAPL as it should.

 The same can be seen on the 15 min chart, so even using AAPL as a lever today appears to be an attempt to influence very short term price action.

 QQQ 1 min, positive around the same time AAPL went positive

 The 2 min chart isn't much different than AAPL's.

 At 5 mins the NDX looks to have a real problem, even if we ignore the trends of 3C and price, the differential between price and the leading negative divergence here is huge.

The 10 min chart intraday also appears to be failing, from a longer perspective it looks similar to the 5 min chart above, leading negative in a big way, but what can you really expect with breadth looking the way it does and the market ramping on that breadth, I'd be a seller too along with all of the insiders at these companies who have been doing the same, this just isn't a healthy market, it's a very dangerous one.