Thursday, January 9, 2014

Opening Indications/Non Confirmation

Of course this is just the open and there are quite a few things I'm looking for, most of which are moving in the right direction, but still looking for.

 The 1 min SPY is actually a lot worse, but I wanted to zoom it to more of an intraday view since the open is what we are looking at, no confirmation of the Draghi induced Gap up.

The same for the QQQ

The IWM did show confirmation, but it has been total confirmation both up and down.

This takes out a little range of the last 2 days as a potential head fake move, although volume wasn't impressive enough to suggest it was an effective bull trapping move, but that has been part of this new character of the new year.

It's a start, we'll see where we go from here, VXX and VIX futures are going to be key to any new signals or action.

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