As of yesterday the chart consensus view was a short term move up was in the works, however the divergence wasn't very large and still quite negative on intermediate-long term charts suggesting the move wouldn't be the start of the new primary uptrend of QE3, but more like a counter trend bounce so far.
Most of the averages this morning are at least in line (confirmation) with the short term positive divergences they built largely yesterday. A couple are showing a little more enthusiasm now.
DIA 3 min leading
ES 1 min leading
NQ 1 min leading
SPY 3 min leading.
Actually since I captured the charts, the NASDAQ / S&P futures have about doubled the size of the leading divergence seen above.
No comments:
Post a Comment