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.

/NQ 4hr
/NQ 2hr

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