Yep, that's what 3C stands for, a friendly reminder that the more comparng you do, the more reliable your conclussions when things all start to align in a particular direction.
With the price action this week, it has been difficult to imagine that the false breakout that I've been looking for in the market is still possible.
So I went to some of the leverged ETFs to compare the signals among the bull and bear ETFs for the S&P, DOW-30 and the NASDAQ 100 and guess what I found? Consistiency; not only among the long/short of each average, but in all 3 averges. In all there's something like 18 charts, all pointing in the same direction, suggesting the market wants to move higher. If this was the case, I'd expect to see positive divergences in the bull ETFs and negative divergences in the bear ETFs. Here they are....
The Dow Ultra ETFs
Dow long 5 min-Positive leading divergence
Dow Short 5 mins. Negative leading divergence
Dow long 10 min Positive divergence
Dow Short 10 mins. Negative divergence
Dow Long 15 mins. Leading positive divergence
Dow short 15 mins Negative divergence
The NASDAQ 100 ETFs
NAS. long 5 min. Leading positive divergence
NAS. short 5 min. Leading negative divergence
NAS. long 10 mins. Leading positive divergence
NAS. short 10 mins. Leading negative divergence
NAS long 15 min Positive divergence
NAS. short 15 mins. Negative divergence
The S&P-500 ETFs
S&P long 5 min. Leading positive divergence
S&P short 5 min. Leading negative divergence
S&P long 10 mins. Leading positive divergence
S&P short 10 mins. Negative divergence
S&P long 15 mins. Positive divergence
S&P short 15 mins. Negative divergence
So there we have 6 different ETFs (Long/Short) on 3 different averages on 3 different timeframes, ALL AGREE. The bottom line, it looks a whole lot like the market wants to move up from here.
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