Wednesday, August 24, 2011

Market Update

 DIA 1 min negative relative divergence

 DIA 5 min negative, relative divergence

 DIA 10 min mostly in line right now.

 IWM 1 min -a small negative divergence off  nice positive divergence on the earlier dip.

 IWM 5 min, I would say this is close to inline, but comparing the relative points in the red boxes, theres a relative negative divergence.

 IWM 15 min Leading positive divergence, making new highs.

 QQQ 1 min somewhat negative divergence, but it's difficult to say because price and 3C are still moving up and lower then the relative point being compared to.

 The 10 min QQQ is short of the same, but it is clearly lagging a bit more.

 The 15 min must be called a negative divergence

 QQQ 30 mn Positive leading divergence

 SPY 1 min better than inline-leading positive divergence

 SPY 5 min also difficult to call a negative divergence because of the positioning, but it i lagging a bit.

SPY 15 min , leading positive divergence, at a new high

Today seems to be a consolidation day of sorts, the SPY needs to break $118 on some volume to get momentum flowing again.

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