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One of my options trading make money indicators turned mildy up around 1:25pm (5:25 GMT) today after being strongly negative all day (despite the fact that most of the market was mildly up for the day. The sudden and sharp favorable turn would make for a favorable close today if my other indicators followed suit (so far still showing mildly negative as they have been all day).
We’ve seen little movement from the end of day close following the May 6th flash crash that is still fresh in everyones minds. Having said that I have to believe the fact we haven’t flopped again in the quiet since bodes well for the market. The holiday week in the US is making for light volume as well, generally a positive indicator in the market of late.
A return from the post holiday week next Monday combined with continued low volume would be very favorable for the major US and global stock indices.
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The remaining indicators all flipped mildy positive 6:15 GMT