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Monday, December 28, 2009

Stock Market Locking in Gains Or?

These 3C intraday charts of the SPY, QQQQ and IWM are showing a lot of distribution, despite the low volume. It may be the short week and funds wanting to lock in performance for the year, but an intraday divergence can quickly cascade into something much more serious. Look at my GPRE pick for a lesson on 3C timing and reliability (up almost 13% since last night's call to buy now and there was a great opportunity early in the day). As you know, my trading system produces end of day signals that are acted on as soon as the market opens making GPRE a profitable trade even buying today. Later I'll have 3-4 more. For now though, if you are using 3C, see if this negative divergence migrates into the hourly chart, then we'll know the music is about to stop and Santa we'll have headed back north for the year.


Posted by Brandt at 3:01 PM  

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