Tuesday, November 23, 2010

EOD Update

Indicator wise, it's been a very strange day. I decided to show a couple of views of the same chart and add Don Worden's MoneyStream to the charts

 The DIA 1 min 3C isn't showing much of anything, it's pretty much in line with price. However, you can see a dramatic plunge in MoneyStream right of the open that has shown no signs of improvement today.

 DIA 5 min shows only a very slight upward deviation from inline toward the end of day, this isn't an overwhelming positive divergence, but it is slightly positive, MoneyStream on the other hand plunged horribly again and shows no sign of improvement today.

 Here are the Q's 1 min zoomed out, it appears to be positive, because 3C did not fall as far as I'd think it would. Again, MS plunged and has been worse all day.

 When looking at the same chart on a tighter zoom (3C's pattern is the same) you see it is inline with price and MoneyStream shows more detail as it continues to drop.

 QQQQ 5 min chart is actually in line although due to the zoom factor it appears to be higher, this is not a positive divergence. MoneyStream shows the plunge again.

 The SPY 1 min shows the same positive divergence toward the EOD I mentioned before, MoneyStream plunged and is not confirming the positive divergence, but 3C tends to pick up on small sublties better so I'd guess that is a real positive divergence in the SPY 1 min chart.

 This is the exact same chart as above, just zoomed in closer, you can see there is a positive divergence, but it is not as big as it appears on the chart above, furthermore MoneyStream is near the lows of the day.

The 5 min chart in the SPY does show a slight upward-in-line positive leaning, again, it did not drop down to the level in which I'd expect, MonsyStream did. I assume there's some sort of PPT manipulation going on here. I haven't seen this situation before.

In any case, if there is any strength or positive divergences, they seem to be centered on the SPY which has the largest exposure to financials and as I showed earlier, XLF has shown some positive divergences today.

3 comments:

JC said...

Thanks Brandt, this market should have been down by much more than it was today. News is coming out from all directions, especially the hedge fund raids and notice of subpoena's by the gov't today on many mutual funds and hedge funds.

meeeee said...

BRANDT. Is the **(DAILY SPY)** chart ACCUM/DIST still DOWN?

Brandt said...

MEEE, yes. If you look at last night's chart the daily went sideways, today it went down. It's now equal with the August lows you will see on last night's chart.