Europe can't catch a break, first last night th Chinese said they will continue to provide “concrete support to Europe through the Eurozone debt crisis”, this lifted th Euro, however not for long. Moody's came out with a soveriegn rating watch to possibly downgrade Portugal which knocked th Euro back down.
In the US this morning, we saw another open as I adresed last night with the charts showing the moving averages of the opening prices vs the moving average of the closing prices.
As of now, the QQQQ is the first to put in the start of a negative divergence, it's also trading in a small bearish wedge pattern.
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