Mish-Mash

Today's jobless claims came in as a beat, but only after last weeks numbers were upwardly revised, for the 25th out of the last 26 weeks. This in itself is mixed and almost market neutral. Continuing claims came in bad, again with another upward revision to the prior week. This is viewed as by many QE2 advocates as evidence that they'll get what they want and then some-even if the QE game has changed, they're already conditioned from the last QE operation.

3C is trading or was trading roughly inline, but at a negative divergence to yesterday's position, known as a relative negative divergence (relative between two equal price points).

Here's an example on the SPY

 Trading roughly inline with prices, although there is a negative divergence all the way to the right as price made higher highs, 3C didn't

When zoomed out and compared to yesterday, you can see the relative nature of the negative divergence as price moves to higher highs and 3C is stuck down below.

Since I captured these it looks like that last divergence I mentioned on the top chart has taken hold and price is declining now. We are also seeing a dip in the Euro after the jobless report it jumped a bit. I'll update as things develop.