Wednesday, March 6, 2013

More Opening Indications

The move in the Dow yesterday and the signals from 3C yesterday and today both seem to be confirming exactly what I thought would happen on such a move, we were less than 100 points from hitting that high which is a drop in the bucket, as I said last week, "If it were me pulling the levers behind the red velvet curtain, I'd take the Dow up there and dump shares/shorts on the retail crowd that was bound to follow on the headline". 

In the meantime, the divergences are doing as you might expect and with the kind of consistiency and migration that was completely missing from the market early Monday, it has built steadily from there.

 DIA 5 min

 DIA 10 min with a deep leading negative divergence, this is a pretty clear signal that what I said above is happening.

 It's not only happening, but at a faster pace and greater size as this 30 min chart shows, that's a lot of migration to hit a 30 min chart so quickly with a leading negative divergence.

 IWM 3 min

 IWM 15 min

 QQQ 5 min

 QQQ 5 min within the trend

 QQQ 15 min-note today is worse than yesterday, why do you think that might be?

 SPY 5 min

SPY 15 min.

I'm going to show you the futures and what today's game plan is.

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