Looking that the 60Min. The last candle yesterday was a very nice "Shooting Star" candle, which could signal a reversal of the trend on the 60 Min chart. Also look at the patterns that formed. Each rally in April started with the moving averages coming together then expanding, each time the averages came together a little less and the rallies were less. Take a look at the chart to see it better. Not sure what it means but it's an interesting pattern.
Of course here is the daily. That Nov trendline looks to be support for the time being. The next real daily resistance is the 875 level.
MEGA B: ( I changed this chart up, to make the volume and decliners bar charts it helps see them better)
Yesterday there was slightly above average upside volume yesterday and well below average downside. There wasn't the lack of volume as seen in the last couple of days. Something to take note of.
MEGA-
$NYMO just bounced off the trendline again. This shows that there is buying of the dips/support in the market. It can be seen in the MEGA B chart too.
$SPXA200- made a strong move higher, stocks getting above their 200MA is a strong sign.
VIX breaking down
Also check out the side bar I have links to the MEGA CHARTS. Check em out!
