Thursday, July 26, 2012

The IWM as the outsider...

You may recall earlier I had one chart that bothered me as it looked like it had seen intraday accumulation in a flat area with positive divergences, that was the IWM and it has made its move. The intraday divergences that were solidly positive earlier are breaking up a bit, some positive, some falling off.

 1 min is a little better than in line

 2 min is starting to falter

 3 min is still leading, we'll see if there's enough time for the 2 min to migrate to the 3 min chart and weaken it.

The 5 min thus far is about neutral, but it definitely could lean negative if we have enough time.


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