Wednesday, July 11, 2012

Market Snapshot

Finally there's some improvement on the SPY 1, 2 and even 3 min. charts with the 1 and 2 min starting to lead price to the upside.

DIA 1 and 2 min continue to improve, making new leading positive highs, the 3 min chart has stayed in an overall relative positive divergence but is not in the leading position seen in the 1 and 2 min charts.

The QQQ 1 min is hitting a new leading high, the 2 min looks ok, not leading though, the 3 min is leading in a stair-stepping pattern, making higher highs

The IWM 1 min is in an overall positive divergence, although it has lost some of the early leading momentum, the 2 min is making up for that though with a leading positive that is making new highs that have actually surpassed the highs from anything from today or yesterday.

There's some interesting activity in GDX (Gold miners ) that a member running 3C pointed out, I'll look in to that closer as well as GLD


No comments: