DIA 1 min
DIA 5 min in a leading negative divergence
QQQ 1 min
QQQ 5 min in a leading negative divergence
SPY 1 min
SPY 5 min in a leading negative divergence.
It's still very early and lunch hour on Wall Street, but between the 5 min charts, the lateral price movement in the averages and deteriorating breadth, this is eerily reminiscent of Friday's action in which we saw almost the exact same thing. I noted on Friday it was my belief (because of the deterioration and persistent lateral trend) that they were going short on Friday, Monday we found out why.
No comments:
Post a Comment