Tuesday, April 23, 2013

Intraday Index Futures Update

Here's a look, even though the averages themselves started going negative yesterday afternoon and all this morning, it wasn't until the Index Futures went negative that we saw movement, at least it allowed us time to manage positions.

 ES 1 min

 NQ 1 min

TF 1 min

However, the ES 5 min is still in line, as is the 5 min NQ and TF charts, this seems to suggest to me that we still have upside, whether tomorrow after AAPL earnings or... I wouldn't speculate on the short term beyond tomorrow. AAPL's important charts still look great.

So, the short term move was to get retail to buy the move up and the longer term is to sell to them (sell short also), so far, it looks to me from price and volume action that retail took the bait.

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