Wednesday, January 2, 2013

Quick Market Update

I was just capturing charts as I suspected between the intraday charts and the TICK data, we were right on the verge of an intraday reversal, maybe this takes us to the DIA/SPY breakout areas?

Here are the charts I was capturing that show 1 min intraday positive divergences.

 DIA 1 min is in a positive divergence intraday suggesting an intraday move up.

 The QQQ just put in the first relative positive divergence today.

As did the SPY, bigger picture they are all in leading negative territory so the underlying strength still isn't there, but this isn't about that and we never expected it to be, it's about a head fake move at this point as near as I can tell and what we expected from this move.

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