BIDU Update

Overall BIDU has a decent looking little base to stage an upside move from, however Friday I warned if I were trading BIDU short term I'd be taking profits now as it looks thin and ready to pullback, that's exactly what happened this morning. This may offer a new long entry in BIDU as it pulls back and reduces risk, but we need to see positive accumulation in to the pullback before considering the trade.

 BIDU base and the pullback this morning near resistance.

 BIDU 15 min negative divergence from Friday pulling BIDU down this morning.

Friday's 3 min negative divergence.

We'll need to see these charts repaired with positive divergences,it's too early to expect them yet, but we'll watch for these to start coming in positive, there we'll likely have a long entry on a pullback with much less risk and a better price position.