Thursday, May 16, 2013

SPY has the Same

And is even moving to confirm right now...
 Here's the pattern and there's going to be no significant reversal without a head fake move

As I am typing, the SPY is starting to break out of the triangle...

Again the 5 min is negative before-hand as well as the more important...

15 min.

The SPY has no intraday positives for the breakout, the only thing it has is a relative negative (weakest divergence) in the Yen...

Yen futures with a relative negative 1 min, which is good because it's a very weak signal, on the Yen chart alone it will probably only look like a normal corrective pullback, on the SPY chart it sets up a head fake entry.

The thing we have to watch for next is negative divergences growing in any head fake or lets say triangle breakouts for now and positives in the Yen, that's the cue to position.

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