A.m. Trade and opening indications

Thus far the opening trade is fairly consistient, to me it looks like the market has been putting in positive divergences on the pullback which has gained some upside price momentum. I would think and there are some hints, that the market would need to halt this move up, perhaps pullback a bit intraday or consolidate if positive divergences/accumulation are to continue. Smart Money doesn't typically accumulate in to higher prices. This market choppiness is why I have taken a more nimble (shorter trades) approach, it's best to keep your trades in tune with the market, you can't force a trade on the market.

 Most of the opening charts look pretty similar, a late day positive divergence, although rather small and a negative divergence or failure to confirm the gap up on the open.

 The 2 min chart showing confirmation as price went higher, that was broken on the open and at this morning's intraday highs.

 The 15 min DIA has turned positive, it had done so yesterday which was a good sign and what I was looking for, but it would seem to me that some pullback or consolidation would be needed before we see additional positive divergences; we can already see thus far this morning the positive or at least in line/confirmation activity has stopped.

 ES with a very slight positive just before the US open and a negative divergence intraday in to the a.m. high thus far.

 QQQ negative 1 min on the open and at the a.m. highs.

 QQQ 2 min confirmation of the move up is broken as there was no confirmation of this morning's gap up or intraday highs.

 The QQQ 15 min chart seems to me to best depict the scenario I mentioned above regarding a pullback. The 15 min chart is positive at the price lows and in the rounding bottom (a typical accumulation area), but since moving above that the chart has put in a negative divergence. We are also near the gap area of resistance, yesterday I warned to expect some volatility in this area.

 SPY 1 min negative on the open and at the a.m. highs

 Confirmation of the move up on the 2 min SPY ended this a.m. on the open and at the a.m. highs.

Over all the 15 min chart looking pretty good, but I still think the QQQ 15 min is the most realistic near term course of action, either a pullback from these levels or a consolidation.