Wednesday, October 31, 2012

Market Update

Here are the positive divergences just mentioned in the last post.

 DIA 1 min intraday is leading at the gap fill.

 ES 1 min never went negative and is in leading positive position.

 NASDAQ futures first put in a relative positive divergence and now a leading positive divergence

 QQQ 1 min from Friday's 1 min negative to a 1 min positive this morning.

 This shows Friday's positive around noon, the late day negative and another positive migrating from the 1 min to the 2 min chart, thus strengthening.

And AAPL which started with a 1 min positive that halted the downside and started a consolidation which is a triangle, interpreted by technical traders as a consolidation/continuation/bearish triangle, would likely see a move below the triangle before any upside reversal, but the divergence has migrated from an intraday consolidation timeframe to a longer 3 min leading positive divergence.

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