OK, about an hour before Obama and the top chiefs from the House and Senate are scheduled to meet, the market is making some moves which is great, it's better than nothing and it gives us something to watch and see how the underlying tone behaves. As far as intraday trade, we still have an eternity right now, especially considering how fast and volatile the market proved to us it can be in the last week.
So volatility...
You can see how much clearer yesterday's short term signals were vs. today's, the negative divergence in UVXY that kept our short trade not only alive, but in the money by $2.00 a share, were quite obvious.
Today the green arrows mean that 3C is moving with price, there are no divergences and thus the market is in a holding pattern with no large transactions either way taking place. However very recently we have a 1 min small leading positive divergence and it's moving the market and UVXY the way it should.
At 2 mins, again yesterday very clear signals, today UVXY is giving no signals and is actually a bit negative recently so the 1 min chart as of now isn't very strong.
QQQ 1 min has been leading positive for a good portion of the day, it finally leapt to the 2 min chart below.
And we have a bit of a leading positive divergence there too, so now hopefully we get some good movement and some good signals out of this.
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