Wednesday, August 18, 2010

More for the Radar Screen

First the SPY, we are seeing the exact same behavior, after 3 pm will really be where the action occurs, unfortunately I must leave at 3 pm, but I'm guessing this pattern continues of sell offs into the close, buying into them and lower prices after hours with another day like today, like yesterday-tomorrow.

Here's the SPY in a leading downside divergence now.


Put this on your radar, TSYS, that's an hourly positive divergence, it's up pretty good today, I'm guessing it sees similar follow through tomorrow. It looks a lot like a rounding bottom.


JOBS above has had a good run, This is a 10-min negative divergence so it's beyond the typical market divergence, it's more serious, this may be a decent short candidate. You may want to give the stop some extra room or create a limit order on the downside, maybe you take some here and some more on a break tomorrow, below today's lows? There's a lot of different ways to play it.

TGT is very bullish today, with an engulfing candle, as long as it closes above the red arrow $51.50 or $51.68 even better or higher, there's a chance that this one runs some more this week as this is a fairly powerful reversal signal.

That's it for now. If I see anything out of the ordinary before I leave, i'll update one more time.

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