Thursday, September 8, 2011

Dow Support Level

I haven't had a chance to look at the rest of the averages, but the DOW/DIA is hitting multiple support levels and the action is getting interesting.
 DIA multiple support levels right here...

 This is a 1 min positive divergence, presumably because of the support levels, but before I could capture all the charts, it has turned down.

 The DIA 15 min chart in a negative leading divergence, for new members it may not seem that important, but this is a very important timeframe and it is seeing the worst type of divergence there is

 SPY 10 min leading negative

 QQQ 5 min leading negative hitting new lows for the past 7 trading days, even when price was much lower.

 IWM hitting new leading lows on a 5 min for at least 7 days

 IWM 10 min moving toward new lows , with most of the damage today.


IWM 15 min leading negative starting today...

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