Wednesday, April 4, 2012

EOD Market Update

Although I think there's enough of an intraday positive divergence in most of the averages and ES to make an attempt at a gap fill, there is some late day deterioration. This could be selling on margin calls or the other possibility is the divergence is starting to come undone already. A change in the 3C underlying action will always be on the short term charts first and if it gets worse, bleed to the longer term charts. So far, this is a cautionary warning.

 DIA

 ES has continued to deteriorate since the last ES update

 QQQ like BIDU is starting to deteriorate

And the SPY is as well


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