Tuesday, May 29, 2012

Divergences continue to build

While they are mainly contained to the 1 min intraday chart (as you know with enough strength they'll bleed through to longer timeframes), they are getting stronger.

 SPY positive divergence continues to build, now making a new leading high for the day

FXE/Euro is also making a new leading positive high for the day.

The $USD should look like the mirror opposite of the 2 charts above for confirmation, you can see it is making a new leading negative low on the day.

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