The Bigger Problem For FB

At least the more immediate problem is the longer charts progression. Moves like this one today when they are not supported through the neighboring timeframes can very easily be short term manipulations to allow sellers (in this case it's the clients-FB employees/management that saw a 777 mn share lock-up expire-if GS and MS-the underwriters of the IPO are to do a good job and get more IPO business, they need to hold the door open long enough for those insiders to get out with some $$$$) to get out.

 The early problem today is the short term 1 min chart is not migrating with confirmation to the next longest timeframe- 2 min. However on a more serious note the 10 min chart is migrating from this leading negative divergence which is likely the insiders selling.

 That is migrating to the 15 min which doesn't look as bas as it should not, the shorter term will always lead, but it is migrating toward a more negative stance.

 That is starting to reach the 30 min chart.

This is the process that is not happening in the early going this morning.

Currently the 1 min is now starting to see it's first small negative divergence.

 The 2 min chart, if zoomed in to an intraday view is doing the same, but it really needs to see the blue line move to a new high for confirmation.