The Head Fake/Shakeout is Still on Deck

The opening looks strong, but there are signals exactly where I expected to find them, I posted a bit on them last night...Broad Market Update They are largely in the Index futures and more so in the USD/JPY correlation and the $USDX/Yen divergences.

These are not HUGE signals that change the bigger picture for the "W" (I'm calling it that for now even though it is not a textbook "W", it is the new normal for a "W" with a second base shakeout which looks like a lower low going by price, only 3C shows it as 1 singular event) base, but they may be enough to effect the head fake move I wrote about last night on yesterday's intraday "W" pattern...

This is a smaller "W" completed yesterday that appears as a Tweezer Bottom on the Daily charts.

Last night I gave some downside target areas you can set alerts for to let you know a head fake move has begun and that would likely be our best, lowest risk/highest probability short-term long entry area.

Once again, for the Averages (ETF), the areas I have alerts set for are BELOW: SPY $181.31; DIA $159.88; QQQ $83.91 and the IWM at $109.65.

In the next post I'll show you opening indications and the action in USD/JPY that I think would be behind such a move very short term (today).