Friday, November 9, 2012

Market Update

As much as I'd like to focus on what's going on with MCP, I have to watch a lot of other things.

Intraday there's a negative divergence in the averages on a 1 min chart, thus far intraday.

Here are the Q's
 1 min negative intraday divergence could lead to a consolidation or intraday pullback, it's not a large signal, it's intraday and it's still early in the day for the market.

 The 2 min chart on an intraday basis also looks like some sort of consolidation, but don't forget where the 2 min chart is in the trend...

Leading positive, at this point I'd just be expecting an intraday pullback as it hasn't done so yet.

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