Friday, June 21, 2013

Market Update

This is what I'm seeing thus far as we are starting to exit a.m. trade,

 Today again the lows are seeing positive divergences or being accumulated as seen above in the SPY, they don't buy the highs, they let out a little supply and bring prices to VWAP or a dip, the same way we want to buy near the lows.

The same is apparent in the QQQ this morning too.

This is a wider view of the IWM, the trend is stronger divergences at better prices, but the important thing is that it is carrying on this morning even though I think the main price objective is options expiration max-pain pinning or price.

The same chart of the IWM above, just with a wider view.

I'll bring some more shortly, but it was important for me to see how underlying action was reacting during a pullback, but out of a.m. trade where it's very noisy.

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