Wednesday, August 8, 2012

Early Indications

As you know I'm not crazy about morning trade, but thus far on the open we have pretty good confirmation...
 DIA's negative divergence, we have a small intraday positive divergence on the 2 min timeframe which has filled the gap, but looks good.

 The QQQ shows confirmation

As does the SPY.

I still expect very volatile intraday trade and stop/limit order hunting, but it appears we have at least started to move toward our trend expectations.

I need to look at a lot more charts, but the Credit divergence showed yesterday with the $AUD in our Risk Asset Update were two big ones that I think were pretty good signals in addition to what 3C has been showing us.

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