Monday, June 18, 2012

Quick ES/Market Update

I'll follow this up with an update on the averages.

ES's positive divergences intraday have been very small, to be fair, so have the negatives. but this most recent negative is leading now, 3C has been very volatile since 2 p.m. and I suspect that this will turn in to a deeper leading negative divergence as the risk assets are not supporting this move.

 The Euro has managed to hold in place, but it hasn't confirmed with the market on the upside intraday.


CONTEXT for ES is getting more negative, I'll be interested in seeing the risk asset layout after the close, I suspect some deterioration in some of the key assets.

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