Jiggy Day
As expected, it has been a jiggy day. The overnight chart combined with
today’s two-minute chart shows the morning reversal, but that resistance held at
1407. As I write this, I’m watching the futures break out, so they are moving
higher.Â
A newer chart shows that they are actually in an uptrending
channel. It seems that despite the morning weakness, the indices suggest that we
are going higher.Â
After making this new chart, I looked over to the Nasdaq futures
and saw that they just broke their trendline. Currently the futures are
consolidating. Which way will they go? Honestly, it’s hard to call.
Just in the time that it took me to ready this article, the
Nasdaq futures have moved over 80 points. What does all this tell us? It’s a
volatile day. Focus on intraday setups and stocks that are trying to fill their
gaps. Noteworthy today is that almost all of the new 52-week highs are on the
NYSE.
Until later,