The DIA 5 min is in negative territory, the SPY 5 min is in positive territory, and the QQQQ 5 min is in positive territory.
If these keep up, we'll probably see some bleed through into the 5 min charts.
5 years ago
Friday, November 19, 2010
1 min Divergences Worsen
The DIA 5 min is in negative territory, the SPY 5 min is in positive territory, and the QQQQ 5 min is in positive territory.
If these keep up, we'll probably see some bleed through into the 5 min charts.
4 comments:
Brandt you did mention Silver and Oil.
You said silver was negative up to the 5 minute chart:
http://wolfonwallstreet.blogspot.com/2010/11/afternoon-closing-update.html
Silver has gone nothing but up since.
And you said oil was positive all the way to the 10 minute chart:
http://wolfonwallstreet.blogspot.com/2010/11/uso.html
And all has gone down since.
So, 5 minute and 10 minute charts are pretty significant and we should have seen action by now, no? But, the opposite has happened. Silver well up, oil well down.
Meant to say: "And oil has gone down since."
And just as you made the above post about worsening negative 1minute charts, the market has gone up. It's starting to feel like September/October all over again!
Are you serious? The chart about USO was posted at 2 p.m., it did go up from 2 pm through the close. I also said long term I'm not bullish on the chart. It could see some more upside based on the 10 min chart, but as I pointed out in the later 4p.m. post, the 1 and 5 min charts didn't gain any ground and that has been creeping into the 10 min chart today.
At 4 p.m. I show 2 USO charts saying neither have gained any ground.
The SLV chart 10 min chart is much more positive then USO's and as I have stated nearly everyday for 2 weeks now, I think SLV will outperform GLD which it has. The nitpicking is a little unbelievable.
Brandt,
Well, I think your wishy washy interpretation of the 3c charts is unbelievable. One minute a 10 minute chart is significant and should see action over the next or two. The next, like you said above, it is actioned on the same day and the opposite has collapsed.
Oil has done nothing but fall from the since the recent high of $90. So, that 10minute 3C chart should have seen some decent upside.
You can apply any interpretation to make 3C seem right.
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