Monday, April 23, 2012

Sectors/AAPL

 XLE 1 min, this is interesting as there seems to be an attempt to accumulate Energy, but still keep if below Friday's close, note every time Energy comes to resistance at Friday's close, there's distribution to keep it from moving above resistance. We can't rule out profit taking at resistance, but there seems to be more to it than just that.


 Energy saw a massive head fake Friday, this is when I sold the USO calls (early Friday for a profit), again, today's there's an apparent attempt to keep Energy below resistance, but yet we have a leading positive divergence going in to the close.

 The 5 min chart has less noise, but again, it is fairly bullish.

 Here's the multiple USO head fakes in yellow, today's 2 min USO is seeing a leading positive divergence.

 The 5 min USO chart looks even better when the noise is taken out with the longer chart.

 Financials as shown in the risk asset update were leaking off today, it is clearly shown on this 1 min chart, nearly all moves toward price strength seem to have been sold.

 The same is apparent on the 5 min chart which fits well with the sector rotation chart from earlier.

 Tech 2 min is still in a leading positive position

 AAPL saw a strong opening positive divergence, note the negative divergence RIGHT at resistance from Friday's close, interesting. This almost looks like they don't want longs jumping in here.

 AAPL 5 min shows the same with less noise

However the 15 min chart is starting to lead positive, most of the action in the late afternoon when smart money is most active.

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