Monday, August 13, 2012

Market Update

These readings are pretty weak, even considering where the market is and that this is an intraday move.

 DIA 1 min from a positive earlier to a negative as price makes afternoon highs, it's actually starting to enter a worse leading negative divergence.

 That weakness from the 1 min chart has migrated to the 2 min chart which is now negative as well.

 ES honestly looked like it had a divergence strong enough to lift it higher than this, but it has been going negative as you can see.

 QQQ 1 min, where the action is, this is now negative as the Q's fill hit unchanged.

 The 2 min never made a higher high, it has been negative through the entire move off the lows.

 QQQ 5 min

 SPY 1 min going negative here, this could lead to a consolidation, but I'm not sure with other averages and timeframes going negative.

 SPY 2 min leading negative


SPY 5 min leading negative.

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