Thursday, November 10, 2011

Market Update

 The 1 min chart has gone negative and the market has responded.

 Earlier I was concerned with the leading positive divergence in the 2 and 5 min chart, both of those are gone now, however neither is much more then in confirmation with the recent move down, which is to say there has been deterioration as they were leading positive earlier.

 SPY 5 min

Unlike earlier when the SPY was leading the Euro by a surprising margin, it is now in line, which is also some deterioration from the earlier updates.

I'll continue to watch for any changes as we are in the final hour of trade.

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