Tuesday, October 22, 2013

Quick A.m. Market Update

So far most of the averages are in line on the 1 min chart, that however would not include the IWM, it is now much worse than say the SPY which looks like most of the other averages intraday (1 min charts).
 SPY 1 min was in line, intraday confirmation and is still pretty close like most other averages, but...

The IWM 1 min is not looking nearly as good or at least in line (good might be too strong of a word for an intraday chart).

The NYSE TICK is also not looking very good, this looks like a Ginger-Bread advance.
We hit +1000, decent, but nothing to get overly excited about and now TICK is trending down.

I'd suspect we'd see another leg or more, it's still very early even for a.m. trade.

I wouldn't go making any big decisions just yet.

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