Although none of the averages confirmed the move and it was way out of sync with correlations (making it suspicious to start with), 3C has turned worse.
ES is also putting in a negative divergence as well.
Thursday, January 5, 2012
Market Update
It looks like that QQQ wedge/head fake was the real deal. Here's the update for the averages. By the way, FCX (short) doesn't look bad here either.
Although none of the averages confirmed the move and it was way out of sync with correlations (making it suspicious to start with), 3C has turned worse.
DIA 1 min
IWM 1 min at a new leading negative low.
QQQ 2 min at a new leading negative low.
SPY leading negative.
And XLF leading negative and getting worse.
ES is also putting in a negative divergence as well.
Although none of the averages confirmed the move and it was way out of sync with correlations (making it suspicious to start with), 3C has turned worse.
ES is also putting in a negative divergence as well.
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