3C has plunged on the 1 min scale and hasn't shown this to be a false break as of yet, but the longer term charts from 5 min and up, still remain in a positive position. I'll be watching for any signs of a positive divergence.
Thursday, June 16, 2011
Market Update
The market has been consolidating in an obvious triangle for the last hour or so.
Trader's expectations would be for an upside breakout, so we have to look at the possibility of this being a head fake shake out.
The TICK chart has recovered faster then the market so this may be an early indication of a shakeout.
3C has plunged on the 1 min scale and hasn't shown this to be a false break as of yet, but the longer term charts from 5 min and up, still remain in a positive position. I'll be watching for any signs of a positive divergence.
3C has plunged on the 1 min scale and hasn't shown this to be a false break as of yet, but the longer term charts from 5 min and up, still remain in a positive position. I'll be watching for any signs of a positive divergence.
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