Monday, February 28, 2011

SPY, USO and SLV Update

I have some trades I want to get out to you, I don't know how I'm going to get them all out in the time I have, but will try my hardest. Here's an update before I start putting that post together.

SLV
 SLV is still in play, earlier I noticed the lateral movement which is usually when distribution happens,  see next chart.

 There's the sideways movement and 3C falling apart, SLV has dropped like a rock, I'm guessing we could be seeing a bear raid here.

 The 5 min chart is confirming... and....

 Here's  the 10-min

 Here's the SPY 1 min

 SPY 5 min -leading negative divergence...

 and now distribution is on the 10 min chart, usually when it makes it to the next, the 15 min, we are at a reversal.

 You can see it developing now in the 15 min chart.

USO
 Here we have some support building in on USO...

 USO  showing confirmation on the 1 min

USO 5 min showing a leading positive divergence developing. compare price at the green arrow and 3C at the orange.

I'll be back with the trades, I have a lot to bring you....

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