Friday, September 23, 2011

BAC as an example...

 BAC 1 min relative negative which could just be a consolidation or a pullback.

 Same on the 5 min chart.

 The 10 min above and 15 min below are very strong leading positive divergences.


However, as we see bigger bases form, the accumulation is always near the bottom of a trading range, so if BA were to pullback to the $6.00 area it is likely that it would start accumulating again and we would be talking about a bigger base capable of supporting a bigger move up, this is why I want to pat attention to these short term charts.

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