And the deadlock is really evident in the NDX and R2K right now, AAPL is being used to push the NASDAQ and I suppose the R2k could draft the rest of the market, but there' still not much behind any of this, it's a very strange looking market compared to the recent past, but not compared to the breadth charts and others I posted last night.
AAPL 2 min being used again, but there's not much beyond this 2 min chart.
The Q's have been having trouble breaking above Friday's close, while AAPL may help intraday, the 15 min chart is showing some real trouble in the area.
The IWM is basically drafting the rest of the market it appears, it too is having problems breaking above the close from Friday, it probably will intraday, but...
Again, even on a short term 3 min chart there's not much or any support
A 10 min chart shows there's actually a problem, just like the NASDAQ.
I'm a bit curious as to what this push and pull is al about and looking for an answer, I don't want to make any commitments until I have a little better understanding of the forces that are in motion here, they seem to be stacked toward the very short term or trying to stack the short term while longer term support for a stronger move or planning for one seems to be missing entirely, even in the very near term.
No comments:
Post a Comment