will be interesting to see if 3:30 yields a big move up/down as per the last couple of trading days???
bearish divergence just starting to show up on 3-min chart, not yet on 5- or 15-minute chart. Just a few more points... The talking heads would really like the Dow to close +300.
Dow +300 achieved. Now we can all start looking to enter short. EDIT: Divergence on 3-min negated by last pop, and none yet on 5- or 15-minute. My 1483.25 target may have been a bit low, and Spooz's more on the mark.
shorting here at 1483 leaving a 3 pt stop to give it some room because one more high is definately not out of the question. trade is highly countertrend. first target 1478 better entry would be one more high in the 1485 area.
In 3 minutes time frames, things change fast. People always want to start the X-mas rally early no matter what is going on. SPX wants to hit 1500 in the near future and any good news on CPI or consumer confidecne front or not as bad as expected and hello 1500. Good luck out there...
just playing the R:R here.... I would be a complete idiot buying up here. Best to try to get on a low risk short or just stay on the sidelines nq and er2 divergence on this last high... market is runningout of steam.. lots of stops below the market... may need to reenter if stopped out due to a capitulation.