Tuesday, January 25, 2011

Interesting Open

I usually don't publish 3C charts this early, there's too much retail order game playing to determine any direction, but I always look, I thought I'd share this morning's open with you.

 1 min chart, positive divergence right off the open, but by the 9:50 highs it's already gone negative.

 5 min chart also shows a slight positive divergence.
But zoom that same chart to scale and look at the negative leading divergence there.

I don't want to jump to any conclusions in this early trade, but that's a deep divergence for 1 day of bounce.

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