Tuesday, March 20, 2012

Early Update

 DIA 1 min was leading negative yesterday, showing the move was being used to sell in to. there's a small positive divergence this a.m., perhaps some backing and filling of the gap?

 DIA 2 min was leading negative yesterday and is in line this morning thus far.

 IWM 1 min, the IWM has had the most 3C short term support, that's why I think it has been playing catch up to get a closing breakout like yesterday, until yesterday it was the only average that had not done so. As you can see, it was leading negative through most of yesterday, there's a decent 1 min positive divergence this a.m., again, I suspect an attempt to fill the gap as the market has been relentless about filling gaps. If the gap is left open, it will be a bearish breakaway gap.


 IWM 2 min negative divergence and a small positive this a.m. thus far.

The IWM 5 min is more important to the overall trend then the 1-2 min, it is deeply leading negative.


 QQQ 1 min leading negative through yesterday and in line this a.m.

 QQQ 2 min leading negative ysterday and in line this a.m.

 QQQ 5 min is also deeply leading negative, especially at yesterday's move.

 SPY 1 min leading negative yesterday with a small relative positive divergence this a.m.

 The longer view of the SPY 1 min to see the extent of the divergence.

SPY 5 min leading negative.

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