The size of the divergence seems to have an effect on the length of the pullback. One day, maybe tomorrow who knows, that divergence may be the last in the uptrend so for those of my members that are trading average ETFs, here's a post for you.
Tuesday, February 8, 2011
Reversal in the market?
This may not be the big one, but the 15 minute chart has been fairly good at calling reversals in the swing trade timeframe or a bit less depending on the size of the divergence. Currently the 15 min divergences are on all of the majors..
DIA 15 min.
IWM 15 min.
QQQQ 15 min.
SPY 15 min.
The size of the divergence seems to have an effect on the length of the pullback. One day, maybe tomorrow who knows, that divergence may be the last in the uptrend so for those of my members that are trading average ETFs, here's a post for you.
The size of the divergence seems to have an effect on the length of the pullback. One day, maybe tomorrow who knows, that divergence may be the last in the uptrend so for those of my members that are trading average ETFs, here's a post for you.
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