Thursday, June 30, 2011

No new TICK high

Divergence here as the market ticks to a new highs, but no new TICK highs and the MACD is in a serious divergence as well as a bearish volume pattenr up here

that last move up may have been exhaustive, but so far there is NO rejection here

Target is the 20EMA (use the 5 minute chart) if this divergence kicks in

Remember, like I said yesterday, divegrences can get eaten up on strong trending moves, so confirmation is key

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