Thursday, October 27, 2011

Chart Request

This was a chart request for the longer timeframes of 3C, but since it's time for an update anyway, I just went through them all. As you can imagine, I have a lot of emails and requests, I'm getting to them ASAP.

 SPY 1 min-This had a hard time and still is having a hard time moving in to confirmation, it was particularly bad right off the open and you can see what that 1 min negative divergence did with the red arrow on price as well. Around 11:45 a positive 1 min divergence was created and you can also see the result of that following the green arrow. Currently there's the start of a 1 min negative divergence and price generally has fallen out of bed to a greater extent vs. the EUR/USD correlation. When I get to updating USO, that should be interesting to watch. Are the algos shut down for a second day? If the correlation was still running we would not only be a lot higher, we would be at a significant new high right now.

 The SPY 5 min has now had plenty of time to catch up, it's not budging and in fact has moved down since yesterday's close. Taken with the non FX correlation and the extent of the earlier pullback, there may be more then meets the eye although I want to have proof by way of charts before I jump to that conclusion.

 StockFinder allows a bit more history then TeleChart so here's the same 5 min chart above zoomed out.

 The 10 min chart is TeleChart only so limited history, but I included TSV along with 3C, both are showing the same thing.

 SPY 15 minutes.

 SPY 30 mins.

SPY 60 mins.

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