Friday, October 15, 2010

Daily charts

I found these two charts interesting as it's been awhile since I looked at the daily charts.

The DIA daily in an obvious negative divergence, not even as high as the last rally. Also if it were to close where it is at right now, we'd have a bearish engulfing candle swallowing the last 2 previous days.

The same applies for the SPY, except it needs more downside today to swallow the last 2 previous candles.

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