Thursday, November 17, 2011

Market Update

Bounce /consolidation or a soon to be overwhelmed divergence?

 DIA 5 min positive divergence, not huge, but it is 5 min.

 ES 1 min positive divergence

SPY 5 min positive divergence.


The TICK chart is lateral like the market so it is not shedding any light, but after a 1 day 1.5 to 2.5% sell-off, it would not be unusual to see an oversold bounce and considering the recent break, as you know, we often see prices linger and test the broken trendline, plus we have op-ex tomorrow.

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