Major markets are showing negative divergences for weeks ~ The Thursday market actions with the Wells Fargo news, markets ran up with gap-up, broken above the resistances which I noted, SPX 850, closing at 856.56. The market volumes with the breakout were higher than the volumes during a few days consolidation period -- obvious short squeeze and frenzy buying with the unexpected Wells Fargo news.
Post 14883 on the SPX 850 resistance.
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=36828662
As noted on the post 14750 that breaking out of SPX 850, the next target is SPX 1000 +/-.
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=36596779
Markets had no retracements during the 25% rally since Mar 6, 2009, SPX 666.79; now, markets are pushing further up with persistent negative divergences for a few weeks.
The technical readings at this point are obviously showing a "breakout" to extend rallies; but, markets are showing negative divergences during the earning period. The recent rally is basically based on the short-squeezes and NWO money power with G20 is supporting the markets. http://www.youtube.com/watch?v=eAaQNACwaLw
While a decent pull back is preferable at the targeted resistances as shown on the major market daily charts, obviously, markets are hyperventilating to upside with a lot of the Fed, the Gov, G20, and news manipulated news.
60min Intraday Price Actions
Since the SPX 666 low, markets only retraced less than 25% +/- fib retracements because many were expecting normal 38% or 50% retracement.
Intraday price movements have shown vertical, initial thrust, then fallen to the next level price supports forming new price channel.
We have repeated fractal gap formation during the three weeks with the three unfaded morning gap-ups with one gap-down.
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