Today was quite an interesting day for the market. This morning futures were up big as I drove into work. We opened higher, moved lower, then moved higher again. However, this was that point I looked at the Russell 2000.. it was getting hammered while the DJIA was in a mild decline. I tweeted this:
How true it turned out to be. The rest of the day the DJIA (and DIA) fell out of bed to end up with the worst decline of 2013.
Now, the more important question is, where do we go from here? Well, I suspect from my calculated scores below that a bullish re-attack is in order.
Here is what the 1 hr DJIA chart looked like at the close today:
You can see that the oscillators are all pretty low. They could stay there, but I suspect there will be some kind of bounce manana.
GOOD LUCK TOMORROW!