Stock Market Technical Analysis Blog
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In the market today, the powers behind the curtain tried to force the pivot discussed in last night's blog to the upward direction with a big gap up shown in the intraday charts at the right side above. They weren't able to find any buyers at the level they opened it up at and the entire market sold back down giving the entire gap back.
In the first hour of the market this morning the red/blue 5/20s and the red/pink 5/50s I discussed last night were starting to turn up but as the day wore on the tip of each one's 5 EMA line was pulled down through its larger EMA on all the indexes shown in the first two columns above.
This market wants to see the indexes traded up not gapped up nor gapped and short squeezed.
In the first hour of the market this morning the red/blue 5/20s and the red/pink 5/50s I discussed last night were starting to turn up but as the day wore on the tip of each one's 5 EMA line was pulled down through its larger EMA on all the indexes shown in the first two columns above.
This market wants to see the indexes traded up not gapped up nor gapped and short squeezed.
Alan
AAPL and big picture charts below
Click on image to enlarge
Click on image to enlarge
Click on image to enlarge
