Look For Divergence
The Qs and SPYs are moving
somewhat in tandem this morning, with
nary a hint of a 13-minute turn as buyers thus far appear to be cleaning their
grills for the weekend. Trend continuation trades using the hourly and 13-minute
trend angles as a backdrop have been the ticket thus far with one- or
three-minute breaks triggering both trend entries and reversal stops for those
dipping your toes in on price probes above the three. Yet toe-dippers should
note that any attempts at three-minute reversals have occurred on relatively
high stochastic bands (School
students should know this), so the morning odds favored trend continuations.
As the afternoon progresses, keep your eyes peeled for any price/momentum
divergences with triggers in the event the grill cleaning subsides a bit.
QQQÂ Â Â Â Â WednesdayÂ
August 28, 2002Â 12:20 P.M. ETÂ Â Â Â Â Â Â Â Â Â
 SPY
Moving Avg Legend:
5MA
15MA 60-Min 15MA
See
School and
Video for Setups and Methodologies
Good Trading.
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