Tuesday, May 28, 2013

Market Update

AAPL itself has a positive divergence reaching out to 5 min, I wouldn't have added there if it didn't stand out.

I'm seeing a lot of positives in Bellwethers, AMZN, GOOG, AAPL, etc as well as Financials, Energy and even Tech to some degree.

Just like last Friday's positives lasted through the weekend, something that works with equities, but not so well with futures as they trade around the clock, I'm guessing these positives will either create a move that will last through tomorrow (unless there's so much upside momentum in the next 30 mins that it uses up all of the weak positives and goes massively negative intraday which I doubt.)

These divergences could also be the start of a bigger one, by that I mean like a small 2-day "W" bottom, but since there's not much migration to longer timeframes, I kind of doubt that.

In any case, if there are some assets that I think are high probability, I may enter/list some. I urge you to really consider these as speculative longs, it really is razor thin between the road and the cliff.


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