Friday, July 17, 2009

Intraday Setup Mimics Yesterday

From the department of strange but true, check out the intraday chart of today versus yesterday. Please note - I only noticed this because I wrote the "Trend Day" piece this morning.

Today thus far (click to enlarge)

Yesterday (click to enlarge)

Not only is the set up identical (today had a 'wider churn' if you will), the S&P broke north of the triangle within 15 minutes of yesterday's breakout. So strange.

While I chased into the strength yesterday for some quick trades.... this seems too surreal so I am not going to do anything at this point.

We'll see how it ends.

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