Thursday, December 27, 2012

Other Averages-SPY and QQQ

I didn't put the IWM here because it's probably a bit redundant and time is a factor right now.

The other averages are similar to the DIA...

 QQQ 1 min positive from earlier has kept up all day, it appears lower prices today were accumulated and the divergence is much stronger than any of the intraday recent divergences.

 QQQ 2 min also leading positive, stayed positive all day, this appears to be that move to the upside that we have SPY calls open for.

 3 min has migrated to the strongest leading positive since we have been watching for this move up, then down hard (much harder than today).

 For the Q's at 5 min the positives stop which still indicated to me a short term pop and the longer term 11/16 cycle in white to the left saw the QQQ head fake move in yellow during distribution and i at a leading negative low. This is the, "Market owes us downside" chart.

SPY
 After the initial EUR/USD plunge on a negative divergence, the SPY 1 min is leading positive at a new high today.


 The 2 min is seeing a very strong leading positive high.

 As is the 3 min, there's some 5 min positive, but it pretty much stops there.

As for the 11/16 cycle and the 10+ min charts, leading negative with a head fake move in yellow.



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