6/30T11:25

Market comments: SPY, DIA, QQQQ are all giving 15 min. buy signals.

These signals are weak however, because there is no alligator developing. This is the last day of the month and quarter and I'm fearing a market rally for no other reason than the usual manipulation. If the 60 min charts looked even remotely capable of a real rally I'd look to go long the indices, but the 60 min.s have a lot of work to do.

At 11:30 everything is going contrary to the current trends. The averages are rallying up, gold and Silver are selling off, Oil has reversed lower and the US$ is moving higher. This all started when an economic number came out this morning better than expected, Chicago Purchase.

Also lots of talk of the DOW hitting the 20% sell off from the high of October. That fact triggers the Bear market rule. The markets immediately bounced off of that number. Classic volatility around perceived important numbers.