Friday, May 11, 2012

Closing Market Update

I learned my lesson yesterday by trying to get this out to late and having upload problems, the last 15 - 30 minutes of trade are generally the most important though so I want to be as close to those as possible.

The intraday charts are looking scattered, but this is the closest thing to an accurate update considering the trends.

 DIA 3 min, the largest divergence is the one you can't completely see which was off the open.

 QQQ 1 min, I cold have used some longer term, but there's some detail here and some trend

 SPY 2 min, again the biggest positive divergence is the opening one, this is where Wall Street was most active today.

 Energy, this 1 min longer chart shows the concept above of the biggest divergence was on the open

 Financials, again, this is a huge relative positive divergence on the open, confirmation would have seen the orange indicator near the gap low on the open.


I used XLK 5 min to show where the largest positive divergences have been, on deep gap down opens/lows.

We'll look at the closing 15 min after the market.

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