Thursday, August 15, 2013

Market Update -

Just a few minutes ago in an update I said I think for the market to get a toehold and launch anything along the lines of a bounce, it's going to need more time around the gap lows today, we are getting short term 1 min signals that this is what is happening and likely going to lead to the expected outcome or at least the one data is leaning toward.

 DIA 1 m

QQQ 1 m

SPY 1 m

This pullback would give the market the time it needs to do some damage repair, so long as the charts keep migrating, 2 min positive to 3 min positive to 5 min positive, EVEN with prices at lows of the day, the probabilities of that bounce grow stronger and stronger, that is where some plausible trades are to be found.

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