Monday, September 19, 2011

Broad market update

I'm still sticking to the original plan. Here are the charts of interest

 DIA 1 min continues to add to the 1 min positive leading divergence suggesting an intraday bounce

 IWM is in a positive divergence and if you look at these charts, you'll see the 1 min 3C chart has called just about every move up and down intraday today.

 QQQ 1 min current leading positive divergence

 SPY continues to develop a positive divergence

 TICK has broken the downtrend and remains in a positive divergence

 VXX-Volatility which trades inversely to the market is showing signs of a negative divergence, meaning it is showing signs of some short term market strength intraday

 These are the inverse ETFS or shorts. This is SRTY UltraPro Short Russell 2k with a couple of negative divergences

 SQQQ UltraPro Short QQQ With a current negative divergence suggesting a pullback, which is what I want to see to add to the position.

 SDOW UltraPro Short Dow-30 in a negative divergence

 SPXU UltraPro Short the S&P-500 in a 1 min negative divergence

 EPV UltraShort MCSI Europe with two negative divergences-all of these are short term 1 min charts.

 FAZ Financial Bear 3x with a negative divergence

TZA Small Cap Bear 3x With a bad leading negative divergence.

Everything here seems to indicate a short term bounce.

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