Monday, August 5, 2013

Quick Update

Today definitely has a different feel/character to it.

Take a look at some of the averages and particularly just what they've done today alone.

 IWM 2 min, I included because a lot of assets around this timeframe have this sort of "Ledge" with ZERO 3C support even intraday, it's a pattern I'm seeing a lot in all kinds of different assets.

IWM 10 min, the change in character is quite clear, the damage today is clear, the fact it was done in one day on a 10 min chart means something.

QQQ 5 min, also has the "Ledge " look, a lot of damage today alone

A lot of damage to the 10 min in the SPY today.

And now reaching the 15 min .

The thing is, these same patterns and character are seen in a number of places including sectors like Tech and financial, but individual stocks as well.

Today definitely has a unique feel to it for recent trade and for a Monday. It feels like something is in the air. I'm going to poke around and see if there's a smoking gun or not.


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