Wednesday, August 1, 2012

A Few other charts

Finally some movement, but it's not consistent, this may be jitters before the announcement in about 30 mins.

 I do like the QQQ 5 min chart because there's a serious negative divergence there, but price hasn't moved, these are the kind of divergences that often are showing leaked information, I don't think that is the case as it's not that consistent everywhere, but interesting.

 The SPY 1 min went negative, if price had stayed in place, I'd say there's probably a leak, but price started to follow the divergence, perhaps market makers moving inventory?

The 15 min SPY chart is similar to the QQQ chart above, earlier in the week this chart was in line, now it has a leading negative divergence. I have to think our trend expectations are still on track, it may not happen right off the bat, but I still think the next significant move (based on the charts now) will be down.


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