Friday, December 16, 2011

Market Update

ES which has been very reliable, continues to move higher and the DIA and QQQ have seen the 1 min divergence strengthen and migrate to some 2 min charts

 Here the DIA 2 min almost perfectly called the bottom with a positive divergence and is leading higher.

 ES is also seeing the leading positive move higher from the last update.

 QQQ 1 min also almost perfectly called the bottom with short term intraday accumulation running right in to the lows.

The 2 min chart is starting to see some of the 1 min chart strength migrate to the longer timeframe, but still intraday timeframes.

The SPY remains pretty much in line with price.

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