Thursday, December 27, 2012

Intraday Market Charts

These are just a few examples from the last post, I still want to see how the shorter timeframes fit together with intermediate ones.

I just used the SPY, but it's pretty representative of the other averages in these timeframes and I used volatility as a confirming indicator.

 SPY 1 and 2 min intraday positive divergences above and below.


 VXX and UVXY 1 and 2 min intraday negative divergences above and below respectively.


The TICK Index shows this move was a pretty strong one as far as market breadth is concerned and this is the fragility of the market I've been talking about...
That's an almost -1500 extreme NYSE TICK reading, we have barely broken above +500 today, this is more or less because of the negative divergences in the mid-term charts, the market has very little underlying support here (the last several weeks).

No comments: