Wednesday, August 10, 2011

3C indications

Much like yesterday (and I suspect today is caused by range bound trade as 3C makes comparisons to money flows at different relative levels and when a market is in a tight range, those comparisons are harder to make), the intermediate to longer term harts (10, 15 and 30 min) are the strong charts today, many have gained in their leading divergences today.

Here's a visual representation of what I mean.

The 10 min QQQ 3C chart is at a higher level today, then compared to yesterday's closing highs, although price is off by 2.35%. This is a positive leading divergence.

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