Friday, November 9, 2012

Market Update Before President Speech

I want to get the charts out before the President speaks, I'm thinking buy the rumor/sell the event, but that could be good as I'll show you with the Q's.

 DIA 1 min intraday slightly negative


 2 min overall is in good position, but intraday there's a negative divergence like the 1 min chart above. I'm guessing there's some profit taking on the move up and some short covering.

 3 min chart is as positive as I could expect.

 The 15 min chart, the most important for the overall trend, leading positive in a big way.

 QQQ 1 min intraday negative, but intraday negative.

 2 min is now going negative on the intraday chart, but the trend is leading positive.

 Just as the 3 min is leading positive above even the area it broke below.

 5 min QQQ leading positive is insanely positive.

 As is the 10 min, imagine a pullback as I drew with 3C moving up higher, that would be incredibly bullish.

Here's the speech, Ill get to the rest later.







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