Friday, October 31, 2014

QUICK EOD UPDATE

OTHER CHARTS WILL FOLLOW, THIS IS JUST EOD AND LIKELY OPENING MONDAY WHICH I'D THINK THEY'D WANT TO LOOK STRONG, HOWEVER THERE'S MORE TO THE STORY AFTER A 1 MIN CHART.

The SPY and DIA specifically look like they want the strongest close possible, thinking like a crook it makes perfect sense to line up limit orders for the working folk with positive market news over the weekend, however after the initial close/Monday open, things get uglier, that will follow.


 SPY 1 min

DIA 1 min

They look like they are going for the strongest close, but there are just intraday charts. If they close like this, the market should pick up Monday where it left off, I suspect that's from orders (limit) over the weekend, from there t looks to get uglier.

 IWM 1 min

QQQ 1 min don't look as enthusiastic.

I thought it might be difficult considering HYG, but I think this is a more important bigger picture ahead for next week.
 It is diverging worse and falling harder now like HY credit.

For the moment, TICK is on the side of a stronger close, but again , it's an intraday indication only. More to follow and things get surprisingly more complicated than a simple stronger close.

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