Chart Grab Bag

Instead of posting 60 charts of all the timeframes of the averages, I just grabbed some example charts from each that give you a good feel for the very short term, short term, sub-intermediate, intermediate and long term, as always the longer the chart the more meaningful the divegrence as that's the underlying flow.

 IWM 1 min recovered a lot today off the intraday lows, but looks like it could pullback which may widen out a small base that the late day charts on Friday were pointing to for early trade this week, volatility, macro-economic events, geo-political and the F_O_M_C are all wildcards this week.

If this pulls back and forms something that looks reliable, I may look at an options position or something with leverage, but 1 day isn't enough for me to take that risk, the market needs to show me.

3 min SPY, this is the improvement that occurred today, basically what we were expecting as of late Friday, with the 1 min IWM looking like we'll see an early pullback there's a chance this could strengthen a bit and if so, it may be worth considering a short duration long position to take advantage of what we expected to see early this week, I do want to keep the F_O_M_C in mind though and make sure any position that is entered or closed is done so for very good reason.

DIA 5 min looking good for the move we talked about Friday, a pullback "could" give this a larger footprint which is what it would need to be more reliable or reliable enough to consider trading the move.

 As mentioned in the last post and every other, the intermediate timeframes don't look good for the market like this 10 min QQQ which is leading negative. It's hard for the market to go very far on a 1-day 5 min positive when you have a 10 min leading negative's crushing weight acting as a roof.

 IWM 15 min also leading negative, the interesting thing about this chart though is 3C has been either very much in line with the trend lower or has shown where the pivots/divergences are with a lot of accuracy. Just looking at this chart, the market looks like its in a very normal downtrend here, lower lows and lower highs with good 3C confirmation. Of course you'll always have a bounce or counter trend move within a trend, that's where we find opportunities, but this looks like a very reasonable downtrend with few surprises.

IWM 60 min from in line to relative negative to leading negative

DIA 2 hour, I couldn't bring myself to draw on this chart, no need to.

IWM 4 hour also from in line to relative negative to leading negative.