Tuesday, April 5, 2011

Market Closing Action

 DIA 1 mn positive divergence
 QQQ 1 min Leading positive divergence
SPY 1 min relative positive divergence.

If some strength doesn't materialize into the close, I'd be looking for it on the open tomorrow. There is still the matter of the longer term charts which are more important to the overall picture looking exactly the opposite (negative), but that doesn't preclude the market from a bounce intraday.

Nothing goes straight down or up, in fact you may have heard me say that in a typical bear market decline, there are usually about as many up days as down days, it's just the volatility and corrections in the market. These should be used tactically to further your strategic goals.

No comments: