The 1 minute charts are showing either confirmation or they are slightly out of line, but they are not showing the same strong positive divergences, however the 5 min charts look very positive with leading positive divergences.
Friday, November 12, 2010
A New Game?
Like I keep saying, watch how this QE2 goes down, it may be vastly different then the last operation as so many traders have been brainwashed into thinking they simply need to front run the POMO, some of them probably got crushed today doing that.
The 1 minute charts are showing either confirmation or they are slightly out of line, but they are not showing the same strong positive divergences, however the 5 min charts look very positive with leading positive divergences.
DIA 5 min leading divergence
QQQQ 5 min leading positive divergence
SPY 5 min leading positive divergence.
The 1 minute charts are showing either confirmation or they are slightly out of line, but they are not showing the same strong positive divergences, however the 5 min charts look very positive with leading positive divergences.
3 comments:
Any change in the last half hour?
just updated, seems like the market is just following the dollar, there seems to be no positive effect from today's POMO. I wonder how many front runners got burned today?
All the POMO money got spent pre-QE2 announcement. Where else did the monies come from to cause a 200+ point SPY move up when everyone else was selling (insiders, mutual funds, 'smart money', etc).
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