Friday, March 4, 2011

SPY Update

It looks like an intraday bounce is coming, it may carry over to Monday morning, but I kind of doubt that.

The first 3 charts show positive divergences on the 1,5,10 min charts, not surprising as we've been trending down all day, it's a relief bounce or shakeout, nothing I'm to concerned about. The 4th chart, the 30 min continues to show the bigger picture which is considerably ugly.




No comments: