More Stocks Look Like They Are Building Bigger Bases

As I mentioned I think the last post, you can have sharp 1 and 2 min positive divergences that are really leading positive, but they aren't a strong base, the offsetting factor was I am up in the air as to whether they need a base or not.

In any case, if they do build a bigger base, they can certainly support a stronger move.

The 15 min Index Futures charts have been suggesting what I'm calling a strong upside, "Emotional" move, a lot of individual stocks are looking more like this. I'll use XOM as an example.

 2 min XOM is a strong leading positive divergence, but still 2 min only. You can see it has the accumulation in the right place, but as it develops, it's looking more like this...

The 5 min is leading positive, it looks like a bigger base, it has the head fake move in place.

That would make some sense with the ES and other Index Futures with these very strong 15 min leading positive charts. I'd guess these are more than capable of breaking over the triangle and hitting a new SPX high, that's emotional, but still capped.