Thursday, June 6, 2013

Charts From the Last Market Update

Here's the SPY, note the intraday negative is the weakest kind  and only on the 1 min chart.

 intraday 1 min relative negative divergence, I think this is just to slow the SPY down here.

 The 2 min chart, next timeframe isn't effected at all, you'll note the accumulation at the lows, again it's because of good prices and lots of volume.

If the entire idea of this set up is to get retail bearish and short and then use them in a short squeeze to push prices above the triangle, you don't want them getting nervous and covering, they are your fuel so you don't  want this downtrend line broken too much, certainly not a higher high.

You want to keep them in place right up until you pull the trigger.

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