Wednesday, June 4, 2014

Market Update-Possible Fade Trade

There are several intraday charts getting ugly here, I'm not a huge fan of intraday fade trades and would treat them as speculative, but it looks like there's an opportunity to fade to the downside a bit in to the close.

 DIA 2 min, my least favorite...

IWM 2 min, not much better...

QQQ 2 min looks interesting, but I really like...

SPY 2 min as it's leading negative intraday and...

ES/SPX e-mini futures are also leading negative intraday.

The custom TICK indicator is also going south as far as intraday breadth. Or you can just take in the information.

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