Wednesday, August 17, 2011

Market Update

The market definitely looks short term choppy/toppy.

 15 min neg. divergence (SPY)

Here's a 5 min negative divergence in what appears to be a small broadening top. The measuring/target implications from the pattern as of now would be $114.80.

$114.80 also happens to be about the same as the S3 Pivot at $114.89!

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