Wednesday, May 15, 2013

VERY EARLY Update

I don't like even looking at data this early, it's notoriously gamed, for instance a close like yesterday's brings in a lot of orders from overnight or pre-market traders with regular 9-5 jobs, the orders and stops get run often and morning volatility has little to do with the rest of the day, but thus far I thought this to be somewhat interesting.

For the most part there's a lot of gap filling in to some not-so-good signals from late yesterday. You recall the Q's struggle to lift late yesterday above 3k (NDX-3k) so that divergence looks better than most.

Treasuries as expected from the overnight futures gained quite a bit on the open.

The TICK data is all pretty much below the zero line (more NYSE stocks declining than advancing even as the gaps are trying to be filled. HYG remains an item of interest.

 DIA's overall intraday trend with this morning's gap fill...

The IWM

QQQ with yesterday's left over divergence at the EOD to try to re-capture NDX 3k which failed.

 AAPL is not helping the Q's this morning thus far.

The SPY.

TLT's jump after multiple days of accumulation

The TICK I mentioned in the negative.

Of course all very early trade, but several interesting positions and moves such as TLT which has been steadily accumulated at lower lows.

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