On the 5 - Minute Chart, it looked like $TICK upward momentum was starting to weaken, but the bulls have taken over control going into the European Close. Up until 1100 ET, however, it was a whipsaw morning with some confusion as to where the market wanted to go.
The $TICK moving averages on the 5 - Minute chart did stay above zero all morning, and the market stayed above both the 78 - Period Pivot and VWAP all morning making for a bullish case. But the decreasing upward momentum was a concern until around 1100 ET.
It was a good morning for small base hit victories, rather than home runs.
Charles
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