Wednesday, October 24, 2012

Market Update

You can compare this update to the last update, basically some shorter timeframes went positive, there hasn't been much migration of the divergence so it still suggests the market is just being kept in a range, not allowed to go too high or low, the only exception may be the DIA which has been positive on the 5 min intraday.

 DIA 1 min positive that recently developed, I think there were hints of this on the last update.

 The 3 min DIA is not seeing migration of that divergence, thus I think we are seeing some manipulation to keep the market in an area before the F_O_M_C.

 Here's the 5 min leading positive in the DIA I mentioned, this may very well be a different story than the "treading water" we see in the shorter timeframes, I need to look around more to try to confirm this.

 QQQ i min was largely in line most of the day since the negative open and then just saw a big/fast leading positive divergence with AAPL develop quickly.

 However no migration as of yet to the 3 min chart, again suggesting small investments or accumulation (and distribution) are being used to just keep the markets treading water.

 SPY 1 min also went leading positive very quickly, before I could get these charts captured and out.

 There's some migration in the 2 min chart.

However not in the 3 min chart, maybe we will see it develop, but my gut is still, "Treading water in front of the F_O_M_C".

I'm going to be looking to see if there are any areas that look like strong candidates for positions before the F_O_M_C in about 1 hour and 20 minutes.

No comments: