The purpose of this blog is to provide a unique insight into trends that guide market prices. It is intended to educate and show you characteristics about the stock market, of which, the so called "professionals" have no clue. Traditional technical analysis is almost completely worthless and that is one of the main reasons for the creation of this blog. If you enjoy market analysis and information that you will find nowhere else, this blog is for you!
Tuesday, February 11, 2014
Waiting for divergences...
If markets are destined for lower prices in the near term, a move lower should occur within 24 hrs with almost no upside from here (/ES 1800). Divergences in momentum and price are just now appearing on the intraday charts of the /NQ and since it has been the market leader since Feb. 3rd, I want to focus on it's price action the most. There needs to be some follow through to the downside today even if it is only for a few hrs. That will build in some more momentum divergences and hopefully trigger a resumption to the sell off. Time is ticking for the bears.