Not a lot of directional movement today. Notably, however, the slope of the Cumulative Tick line has taken a turn for the worse (third pane, dotted "colorful" line along side tick -- trying to repair just as I hit 'publish post'). The AD is also headed south.
Note how yesterday's highs took us nearly all the way up to the prior/pre-fall February QQQQ swing highs. This would be a natural pause/ resistance point for the index that has been leading the market. Put that together with the pause in the Financials (XLF), and we have all the ingredients for a day like this.
Reading: BZB Trader - VIXEN Redux; a whole series of excellent studies we have been following on Chatroll.
Schedule for Week of May 1, 2016
1 day ago