What can one possibly say about this market, other than that it has been led by the QQQ for many months-- so where that index is, and has been, is of constant importance. Currently QQQ is up 1% from a ghastly close yesterday, showing some buying interest; trading above a (downslope) 10day MA and testing a still upslope 20day. And price is about where it was in late July.
ROC-12 is indicating a sideways market for the Qs. And ADX-13 is indicating a market lacking much trendiness, with readings in the bottom third of the past few months. Typical of a twitchy, jerky, meandering market.
Slow stochastics and Intermediate Williams Reversal both show a pullback that is either done or halfway to where it’s normally headed.
Poor Cobra. Good luck finding a short-intermediate Trend in all that, in order to color the intraday bias. Plus we are in a strong market in a weak seasonal period, which makes things even more whippy and erratic.