Tuesday, August 16, 2011

An Interesting Signal

At the recent afternoon lows a positive divergence has shown up on the 10 min charts, it's new, just today.

 DIA  10 min chart with a positive divergence at a relative new low

The same on an IWM 5 min chart

 The same on a QQQ 10 min chart

 And the same on a SPY 10 min chart.

The negative divergence in the 15 min charts like this SPY, take priority over the shorter term charts like the 10 min, but if the 10 min continues to build it will filter into the 15 min chart. 'll be keeping a close eye on this, but as of now, still expect more of a pullback.

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