Friday, October 5, 2012

Futures update


I like to see this, the S&P futures 3C signal has been accurate for them, the NASDAQ futures 3C signal has been accurate for it, the QQQ is saw a negative divergence and fell, guess why... AAPL. There are some initial intraday signs AAPL is going to make an intraday move up as the 1 min is now positive and moving toward the 2 min chart. As I mentioned last night, I did think AAPL would see some weakness, but Ido not think it's done with its move ultimately and where I'd like to re-enter the short position that was closed.

 ES-S&P mini futures are perfectly in line between price and 3C, not really doing much though since the NFP.

 On the other hand, 3C was negative on the NASDAQ futures and they have fallen below the pre-NFP levels.

 Here's the intraday dip in the QQQ, you may recall the negative divergence intraday at the intraday highs for the QQ before they fell.

 Here's the QQQ 1 min relative (weaker divergence) positive divergence.

The 2 min chart is starting to move toward a relative positive as well with AAPL, I do wonder though if this 3 min chart will be able to go positive, if not then I'd probably be looking at a quick TECS trade.

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