Friday, December 21, 2012

Charts

 DIA 3 min leading positive divergence-this is still intraday, but it seems as if a stronger intraday position has been accumulated at the lows for a bigger intraday move.

 The DIA has also been showing the best relative 3C performance vs the other averages lately, the IWM showing the worst. This isn't to say the DIA has been showing positive performance, just better vs the other averages. Here we have a 5 min leading positive divergence.

 IWM 1 min actually showing a negative divergence in to yesterday's close, the recent new high in 3C today while price is not currently at a new high is what makes this a leading positive divergence.

 The IWM 10 min chart is interesting because it shows on more important timeframes, where it really counts beyond intraday or day to day noise, there's no improvement at all.

 QQQ has also been one of the better 3C performers today with a clear leading positive divergence.

 That migrated to the 2 min chart which also went leading positive, it seems there was accumulation around the 12 pm area.

 QQQ 15 min shows near term reversion to the mean on a leading negative divergence, however if this were scaled out to the longer term trend, the QQQ would need to be close to the $61.25 level to meet the divergence as it stands today assuming it didn't get any worse-please don't take that as exact science or price targeting, I'm just trying to give you an idea of scale.

 SPY with the early positive divergence and also a noon-ish accumulation area and a leading positive divergence. To be clear, these are NOT, clean, crisp, clear divergences, except maybe the QQQ 1 min., these have been struggling as I suspect there are  lot of undertones pulling in diffrent directions.


 SPY 5 min shows a small positive leading divergence, it's clear the afternoon trade seems to show more accumulation than the a.m. trade.


VXX showing a new leading negative divergence, I had to draw a trendline on price to show the new low in 3C was not accompanied by a new low in price, thus the negative divergence, the point again being these are not clean, strong, clear divergences.

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