Monday, August 6, 2012

SPY Update

Given Financials influence on the SPX, I thought I'd take a quick look at the SPY.

 SPY 1 min intraday showing no confirmation of today's opening move higher.

 2 min in a leading negative divergence, this is what reversals often look like and this is a pretty clean chart, we haven't seen charts this clean in at least a week except for Thursday's intraday accumulation.


 Migration to the 3 min chart, also note the intraday divergence today.

And the all important cross from intraday to more meaningful charts at 5 mins, leading negative.

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