Thursday, October 20, 2011

Market/SPY update

In the last market update I mentioned the start of a negative divergence...
 Here was the negative divergence, which ended up being a consolidation/pullback within the bounce off the lows.

 2 min is starting a relative negative divergence

 The 5 min is trading in line so this is the fulcrum pint between the short term and longer term trend.

 15 min remains leading negative

 The 30 min longer term trend has added to the leading negative downside today

 as has the 60 min

Here's ES 5 min starting to go negative as well.

Let me take a look at the other averages.

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