Not looking too good in the market. We had a lot of bearish wedges that I thought would shoe some false breakouts and thus far that is appears to have happened.
DIA daily Wedge
DIA 60 min 3C
DIA 10 min 3C
QQQQ 60 min 3C
QQQQ 30 min 3C
QQQQ 15 minute 3C
QQQQ 5 min 3C
SPY Wedge breakout
10 min 3C
SPY 30 min 3C
SPY 1 min 3C
As you can see, by this sampling, most timeframes are negative or leading negatively divergent, when you' expect to see confirmation of a strong move. Also the percentage gains today have stalled into stars and doji reversal signals. I believe we are setting up for some kind of major change in the market.
No comments:
Post a Comment