I'm seeing 3C positive divergences that seem to turn negative rather quickly, right now we have the biggest of the day, here's what they look like.
DIA 1 minute The DIA divergence is between the SPY and the Q's with the SPY returning to a negative stance and the Q's, showing a small negative divergence but still in a positive stance.
SPY 1 minute The SPY divergence seems to be in shambles again after a quick run up
QQQQ 1 minute-you can see while there's a small negative divergence, the Q's overall stance is still positive.
QQQQ-15 minute-this chart is obviously looking very bad and it's the most influential of these charts above.
Interestingly, it seems the SPY is starting to turn down, followed by the DIA, the Q's are still in the short uptrend. We'll see how they play out. I was really expecting the Q's to lead the charge down, which they are on a % basis, but 3C should look significantly weaker i the Q's then it does.
9 comments:
This is very interesting Brandt. It seems to me that these 1 mins get run over at important change in trends and may give us clues when we see this type of behavior in the future. I remember back in late Aug we saw 1 min divergences to the downside get run over as well if my memory serves me correct. Not sure.....
Wedge forming on the SPY, that should produce some direction shortly.
HEy just wondering what 3C is saying on Aussie dollar prior to rate decision tonite?
Come on GLD! Drop! I know you want to.
Same (SIDEWAYS UP/DOWN) movement like for the last 6 DAYS and 4 MONTHS. Enough already!!! Make a move already! Pick a DIRECTION!
Jason, I don't have 3C access to currencies unless you have an ETF?
How bout FXA?
I covered FXA in another comment section. It looks like it's changing character to down, but I said it would have an up day today.
Post a Comment