Distribution, as expected

I was looking at the q's and noticed the distribution starting already as has been expected on the bounce that has also been expected. I thought the easiest way to see real distribution would be in BAC as it is the one stock that institutional money would like to get out of their portfolios before the end of the quarter which would be the 27th for settlement purposes.

Sure enough, BAC is using, as I said yesterday, "Any strength to distribute the stock".

 QQQ 1 min positive divergence at the end of day yesterday just like I described in ES yesterday and some distribution already starting.

 The 2 min confirms distribution, although it doesn't look really heavy quite yet, however do note the attempted breakout to new highs saw a leading negative divergence today.

 And the reason we have been expecting a bounce, the 5 min QQQ hart with accumulation to sell in to the bounce. We see some relative negative divergences, but not heavy distribution yet.

 BAC 1 min, they are wasting no time trying to sell BAC in to some price strength, the 1 min s leading negative, indicating heavy distribution and BAC's price is relatively flat, another sign of accumulation/distribution as the middlemen try to fill orders near a short term VWAP.


 The 2 min shows distribution as well

The 5 min is not where I would consider shorting BAC at a full position, but I would nibble at it here if BAC was a position I wanted in my portfolio. I already have enough exposure to financials so it's not a trade I'm interested in at this point, but for others, it may be.