Thursday, August 11, 2011

Break Out or Head Fake Still to Come?

 DIA breaking even the 30 min chart with positive RSI/MACD

 DIA 1 min confirmation

 DIA 5 min confirmation

 However volume is troubling for a breakout

 QQQ  1 min non-confirmation

 QQQ 10 min non-confirmation

 Lack of volume

 SPY 1 min confirmation

 small 5 min neg. divergence

SPY breakout, no volume...

This Inverse H&S is too obvious, thus my earlier warning of a head fake, perhaps the pattern will show a failure as a head fake, but volume should pick up and it's not, thus until it does, I'd still be on the lookout for some Wall Street game.

No comments: