Market Update

 DIA 1 min-yesterday there was significant distribution, it was propped up yesterday and today has fallen in line with it's 3C profile.

 A closer look at the 1 minute chart shows a little bounce, there's not any 3C support for it at this point, but it would make sense that the market relieves a little of the selling tension with short profit taking.

 The 10 min chart is solidly negative in the DIA

 IWM 1 min has rallied into distribution, there's a slight positive divergence here on the 5 minute chart.

 IWM 15 min-the bigger picture shows the heavy distribution at the recent top yesterday. Right now, 3C is in line with price.

 QQQQ 1 min. has been confirming price, even the bump, no real positive divergences here at all except a very small bit around 12 p.m.

 The QQQQ 5 min showing a very negative divergence yesterday. right now, confirmation.

 The QQQQ 15 min. There's the negative divergence at the apex of the wedge and upon the false break higher out of the wedge. Then the small positive divergence that had me thinking we'd see a bounce (bounce only) in the market this week up until Friday-as was my theory. Now a important 15 minute negative divergence at yesterday's highs.

 The SPY 1 min is a bit ahead of confirmation so it's a positive leading divergence.

The 10 min chart though shows a very negative divergence, in green we have downside confirmation. Look at the volume. I've been saying this week that I have a bad feeling in my gut about the market.

Out of Egypt, the curfew is not effective at all. Egyptian military has rolled tanks down the streets. They were surrounded by, get this.... CHEERING PROTESTORS Cheering, "Long live Egypt, Long live the Army!" The army had to literally get out of their tanks and shake hands with every protestor so they could clear the streets and keep their tanks moving to their locations. Unbelievable and not a good sign for the president.