pre market update

There are 1-min positive divergences even though it looks like we'll see a gap down. We have seen plenty of false moves to the upside that were at odds with 3C readings so don't be surprised if we see a gap that is filled. In that case we may see upside from there and last nights longs may work well today. However, if the market just goes into an early free-fall with no signs of recovery, you must be selective about the longs and see which ones are bucking the trend as they did yesterday. Again, while there may be a few positions that turn into trending trades, the majority are meant to be quick pop trades. If they advance 5-7%, there's a chance they may trend more. If they pop over 10-15%, it is more likely they will be short lived.