Thursday, December 6, 2012

Check it out!

 This is just a start, but that's the SPY breaking above the triangle

 In green the SPX and orange the Euro on a 1 min intraday chart zoomed in, note how they both are moving at the same time-this is why I let go of SCO as it would follow the Euro, I can always open it again tomorrow or whenever this move ends.

It will be interesting to see how the futures play it overnight, they won't stay frozen here, but I did capture the FXE/UUP charts for the currency post, I didn't use them, but the point being they had the same signals as the charts i posted, the difference is with these ETFs, if the signal was set up today before the close, they almost always benefit from the move the next day no matter what happens overnight, that's some foreknowledge of the market!

 This is the 1 min NASDAQ Futures, remember we want to see 3C deteriorate across the 1, 5 and ultimately 15 min timeframes.

 The 5 min NQ chart was one of the charts that was so positive Tuesday we knew something was going on, look at it today, no hint of positive indications. This divergence needs to flow to the 15 min chart which had been leading positive al day today as Tech and Financials rotated and switched places from yesterday.


While the NQ 15 min chart is no where near a negative divergence, there is deterioration! It may be small, but that's how it always starts; toward the close 3C put in the first lower high and lower low in the entire leading positive divergence so that's good to see.

I'm going to look around and be back with any observations.


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