Monday, September 26, 2011

Early Market Update

Now this is what I was looking for as per Thursday, Friday and last night's post.

From last night's post, " Here is the recent trading range in the SPY that has been under accumulation, note prices are getting high in the range, smart money wants to accumulate at the lowest prices, so a move toward the bottom of the range or below the range is beneficial for smart money's long position and ultimately, the uptrend that follows."


 DIA trading range with a little upside head fake on the open, this gives the move down some momentum as longs buying the gap up are selling at a loss, increasing supply.

 DIA 1 min negative divergence on the open and back in the range a expected.

 DIA 5 min negative divergence on the opening gap.

 IWM also a little head fake on the range on the open.

 IWM 1 min negative divergence carried over from Friday.

 IWM 5 min negative divergence on the open,

 QQQ trading range

 QQQ 1 min negative divergence on the open

 QQQ 5 min negative divergence on the open

 SPY 1 min negative divergence on the open

SPY 5 min negative divergence on the open and a head fake on the trading range.

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