Monday, August 1, 2011

Market Update

This took awhile longer then it should have because of problems with my screen capture software.
 DIA 1 mn pointing to a consolidation or intraday pullback

 DIA 5 min in leading positive position.

 DIA 10 min close to making new leading positive highs, even at these price lows.

 For the first time, the 30 min charts are going positive, look how much ground the DIA 30 min 3C chart gained today, this is near a new high when prices were 7 DIA points higher!

 IWM 2 min is positive short term

 As is the 5 min, look at the relative divergence between the two red boxes when the IWM was higher, now price s lower and 3C is significantly higher, a very positive relative divergence.

 IWM 15 mins approaching a new leading high.

 Again, for the first time since this all started we are seeing movement in to the 30 min timeframe with a powerful leading positive divergence.

 Even the 60 min which was not in the game before has posted a positive relative divergence, again compare the red boxes and price levels/3C levels, this is a positive relative divergence on a 60 min chart, one of the strongest indications we have seen to date.

 The 1 min Q's pointing to an intraday pullback/consolidation

 The 5 min chart is approaching new high leading status today.

 Again, the 30 min chart is now n play with a positive relative and leading divergence with most of the ground gained today.

 The 1 min SPY pointing toward an intraday pullback/consolidation

 The 5 min chart gaining ground today, it is now higher then the open.

The 15 min chart continues to move higher, again compare the relative divergences between the price/3C levels between the two white boxes.

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