Despite the headlines of Dow and S&P being within spitting distance of new highs, underneath the hood some big names and one major index are tracing out a different pattern. These are the signs of a new trend in its early stages, vis a vis the 30-minute price patterns of some high profile names. It's a bearish precursor that should spread to the blue chip indexes shortly. We are already seeing some tradable set-ups on mostly Nasdaq stocks. More to come.
