Monday, March 11, 2013

Charts

Today is a very strange market, I can't put my finger on it and it's not standing out except some moves in currency.

Lets start there.

 The Yen with an intraday positive and the 5 min chart is still very strong, no damage done there at all, I'd think the Yen heads higher.

 The Euro just took off, sending the Dollar lower or vice versa, however both are already showing divergences and the start of moves back in the other direction.

$USD falls, but has a positive intraday chart.

As for the futures, the SPX and R2 futures look even worse (3C) now which is only minutes after these were captured.

 ES intraday leading negative and it's even deeper now

 The NASDAQ is in a weaker relative negative, it's the weakest of the 3 signals.

The Russ 2K is showing a worse signal now too.

So far this looks currency driven, but it seems obvious volatility was tried first to move the market, then desperately even AAPL was used, I'm not sure what the polar opposing forces are about, but there's something working against the market (longer term that's not a mystery, but intraday I can't find it).

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