The IWM is also showing a negative divergence similar to the Q's so I'm guessing that there may be some late day profit taking. It's not the usual confirmation, but the DIA worked earlier so I thought you should be aware.
Wednesday, May 25, 2011
MARKET UPDATE
Just like the DIA was an outlier by itself and was leading the market, I've taken notice of the Q's recently in afternoon trade.
DIA 1 min looks fine, in confirmation
The Q's are showing a 1 min negative divergence.
The SPY looks fine
The IWM is also showing a negative divergence similar to the Q's so I'm guessing that there may be some late day profit taking. It's not the usual confirmation, but the DIA worked earlier so I thought you should be aware.
The IWM is also showing a negative divergence similar to the Q's so I'm guessing that there may be some late day profit taking. It's not the usual confirmation, but the DIA worked earlier so I thought you should be aware.
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