Monday, November 29, 2010
Trying to get this out quick-Request
I just updated the market , I'll put up the daily tonight. Here are SLV, GLD and USO on 1, 5, 10 min and daily timeframes. I won't have time for interpretations before the close, but they should be fairly straight forward. Ticker and timeframe are in the upper left corner.
3 comments:
Show us ***(SPY DAILY)*** chart please.
Thanks Brandt, i look forward to a more detailed update later. As meeee has said how are the daily market average charts looking, are we close to a big sell off that the FED can't prop-up?
Recently the $INDU has been hitting it's head against the central Bollinger band, so it looks like it acted as good resistance. It now looks like the 50 DMA may take over as resistance as the $INDU closed below the 50 DMA today (11,063).
I just posted the daily SPY, moved a little up today, but it is pretty fr from a positive divergence and the fact that it's already in that leading negative divergence is the trump card, even if a relative positive divergence were to take hold, which would take awhile.
It doesn't look very god to me at all. Even the close was just an obvious pump and the 1 min chart on the DIA actually hit new lows for the day while price was near the highs. It's almost as if they were setting up a short position or something, but all of the averages are right at support levels.
The Dow is very close to taking out $11k, which should be a pysche level.
Got run out for an hour or so.
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