Tuesday, July 20, 2010

Update

Ok, this is the strength I was seeing last night, the 1 min 3C is inline , confirming the price trend, but on the 5 min we are starting to see more distribution.

WFC which reports tomorrow is seeing  short term 1 min negative divergence, but in the other timeframes it appears to be pretty positive. My guess "GUESS!" would be that they have good reaction to earnings Wednesday-keep an eye on that one it, may be worth a shot with a tight stop.

I'd think the market will pullback around 3-3:30 and then finish strong.

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