We'll see what the rest of the day brings, but so far, we do have a difference.
Friday, November 12, 2010
Maybe?
Something is different this time? It's too early to tell, but from what we have seen so far, yes something is different. I don't know if it is CNBC selling QE2 POMO buying a the "greater fool theory" or if the PDs/Brian Sachs are changing course, but the divergences on the 1 minute chart could have very well been a lot of the same old retail front runners from the last operation, the fact the 5 min wasn't confirming was telling us something was up and now here's what both charts look like.
DIA 1 min chart-The leading positive divergence totally disappeared.
The 5 min chart shows confirmation of the trend
The QQQQ 1 min chart, again, the leading divergence disappeared..
The QQQQ 5 min chart showing confirmation thus far with the price trend
The SPY 1 min chart, -leading positive divergence disappeared...
The 5 min chart here is even uglier then the rest.
We'll see what the rest of the day brings, but so far, we do have a difference.
We'll see what the rest of the day brings, but so far, we do have a difference.
3 comments:
It's probably because the $600m QE2 money was all spent in advance juicing the market running up to the already known announcement of it. That $600m was probably what took us up 200+ points on the SPY from the start of September in the first place. And now it's all been used up to get us up here, then it's time to unwind those profits.
... all priced in maybe?
Meant to say $600b.
Sorted out the email distribution yet Brandt?
Not yet Mr. Pink, I worked pretty late last night, I tried a couple of fixes, but there are dozens. Another suggestion is that because I have so many on the group I may have been marked as a spammer.
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