Tuesday, May 15, 2012

Quick Market Update

Just because this ES chart continues moving higher, I took a quick look at the major averages.
 These are all intraday 1 min charts, ES keeps moving higher in a leading positive divergence, unless there's something about to happen with the EUR/USD, I'm assuming there may be something in the Risk Assets/Credit.

 The DIA probably wouldn't have caught my attention if the other averages weren't showing the same or better, but there's the start of an intraday positiv divergence since the highs turned.

 The QQQ positive intraday divergence is more developed, not surprising as the dia has been the laggard in underlying trade for over a week.

And the SPY is showing the same positive divergence forming intraday.

I'm going to change the layouts and take a look at the Risk Asset layout.

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