Friday, May 4, 2012

ES Update

I bring it to you as it is...
ES which has been moving up all day put in the start of a negative divergence intraday after 2 p.m., it wasn't much at that point, after 2:30 it started leading move and price has reacted to that. I'm not sure what it is up to, it could be ES traders closing out positions before the ES market closes today (no overnight over the weekend) or it could be ES prices are a little too high in the range for where positive divergences have been occurring-generally they don't want to accumulate in to higher prices but lower, although I'm leaning more toward the first option.

As I write, it looks like it just turned up, still in relative positive territory.

I'll check the averages.


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