Tuesday, June 2, 2009

Today's Markets

Take a look at the following charts that show the last year's worth of action. Click on all images for a larger image.

The SPYs are are above the 200 day SMA but are just below key resistance.

The QQQQs have broken out and are moving higher.

The IWMs are just above key resistance.

So the price picture is positive. But, take a look at the on balance volume of the SPYs and QQQQs

The SPYs OBV is decreasing. The IWMs and QQQs have a rising OBV.