Wednesday, June 30, 2010

UPDATE

The 1-min positive divergence we saw yesterday is already fulfilled in filing the gap this am and it's slightly negative now, but hasn't gone into a leading divergence, if that happens then I'll post that chart as it would be meaningful.

There are a few 1 min charts that are starting to deteriorate, the 5-min did not gain any ground on the fill of the gap and instead is relatively negative. Thus far, although it's way too early, I don't see anything very bullish so watch for more downside. (1) 1-min 3C is close to a leading downside divergence, but until it is leading, it can turn up any time, but still it's fairly negative, more so then I expected last night.

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