CURRENT 1 MIN 3C

We broke a support level or two and as is normal we're getting a bounce, you can see 3C called this last one as well. Right now, we're just waiting for that to turn negative on the 1 min. You can see below on the LONG term 3C in red how it stayed pretty much above the middle line most of the day and now has dived below it. It takes a long time to move this one so I regard that divergence as serious. We'll just have to wait and see if they keep this thing hovering as it has been all day or if they sell it off into the close.

I'm a little impatient and would like to see the break soon, but it doesn't really hurt for it to be up here as long as they are distributing which they are, it just makes the bull trap more powerful. We keep seeing these early moves up and then lateral trends most of the day. I'm taking this to mean that the early trade which is largely the small fries like us are bidding the market up, but once their demand is gone, there's no institutional demand pushing the day higher. I' thinking it's because they are distributing at higher prices and who wouldn't want to sell/short at higher prices?  At some point though it will end and they'll pull away the little support they give to keep prices stable/lateral and the market will sink and no retail morning trade will be able to compete with what they have in store-that's my take.