You know the reversal scenario I described, here are some more hints that support that and make me think that it may be better to start adding some of those positions before the close.
Check it out...
DIA 2 min would have only had a very small accumulation period this afternoon, that wouldn't be enough to sustain the move very long.
At the next timeframe, 3 mins., there's no sign of migration of the divergence so not only was it short in duration, but not all that strong.
IWM 1 min is moving up in to a negative divergence
The SPY is similar to theDIA, the accumulation period would have been very small and on a short term chart. In addition, although if I zoomed it would look like a leading divergence (positive), the whole thing is in leading negative territory.
No comments:
Post a Comment