Wednesday, March 20, 2013

Market Update

It looks like there will be a small intraday move to the upside, but it seems to have NO support beyond a 1 min intraday chart.

 DIA 1 min intraday looks positive here for a move up, however...

 Don't forget the 1 min chart's overall or big picture position which is not good.

 And the next timeframe at 2 min has no follow through, 3 min looks bad.

 IWM intraday 1 min is in line

2 min, not so good

 QQQ 1 min is leading positive

 2 min is leading negative, this is why I say a small move, it may even be larger, but it looks to have no support, staying power, etc. It looks to be smoke and mirrors.

SPY 1 min is in line and a bit more negative than that.


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