Tuesday, August 23, 2011

Market Update

It looks like a consolidation or a pullback is on its way shortly.
 DIA 1 min is just barely out of line

 DIA 5 min shows a slight negative divergence.

 IWM 1 min shows a negative divergence

 IWM 2 mins shows the same

 IWM 5 mins is largely in line and suggests t won't (as of now) be too bad of a move down.

 QQQ 1 min negative divergence-on the 1 min chart only

 SPY 1 min negative divergence

SPY 5 min remains in confirmation.

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