What a crappy day. Buy the open, sell the close. A lot of false signals, but the big moves paid off. The mid-day consolidation formed a triangle that broke out to the upside, but didn't find much buying behind it. We ended up closing (SPY) right around the lows of the previous day (for that matter, Friday's low as well; around $85.75). The only thing of interest I have for today is the chart of the SPY daily, and what looks like could be a
Diamond Top.
I'm also taking note that the ADX is at the lowest reading since September '08. I
refer to a previous post regarding these dried-up volatility troughs.
The Nasdaq, an index that has shown relative weakness in this counter-trend, is looking like a
rising wedge:
I'm also taking note that the ADX is at the lowest reading since September '08. I refer to a previous post regarding these dried-up volatility troughs. 
The Nasdaq, an index that has shown relative weakness in this counter-trend, is looking like a rising wedge:
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