Tuesday, April 30, 2013

Quick Market Update

There are some 1 min positive divergences, I'm not sure yet if they are supported by any levers or not because they are new, they SPY arb is 30+ mins delayed and it takes several minutes to switch layouts to leading indicators and then interpret them, the fact is it doesn't matter and I'll show you why, but it may give you upside momentum to short in to.

The SPY and IWM as examples...
 At the far right among all the distribution you can see 3C moving up, it's odd because it's not a typical accumulation area where price is falling or has fell and is lateral, it's more rising.

 However if you look on the next timeframe -2 mins for any migration of the divergence to see if there's anything behind it, you get this resounding answer.

The same in the IWM< except this looks more impressive on the 1 min chart.

The 2 min chart pretty much answers any other questions

And the 3 min chart at a new leading negative low.

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