Thursday, February 7, 2013

The Market Is About to Turn Up

While I put out all the most recent data in a post I've been working on as I wait for morning trade and knee jerk reactions to burn off, we now have positive divergences in the averages as well as ES and NQ.

You can never take the opening trade on Central Bank actions or words as the final say, usually they are knee-jerk reactions best ignored, that's not to say the market will not plunge, just that the knee jerk reaction should be put in proper context.

 ES intraday positive divergence.

NASDAQ Futures intraday positive divergence

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