MARKET UPDATE

As I mentioned earlier, headlines drive retail, what's below the surface and important that is not to be found in the headlines, drives institutional money. today's headlines have been great, below the surface, they more or less cancelled each other out.

Here's what's been going on as I mentioned earlier, retail has been bidding the market up, it appears institutions have been taking the other side of that trade.

Here are the 1 & 5 minute 3C charts for the majors..

 DIA 1 min.

 DIA 5 min.

 QQQQ 1 min.

 QQQQ 5 min.

 SPY 1 min.

SPY 5 min.

As you can see, through the afternoon, it appears institutions having been taking the sell-side of the retail bid. We'll see, but I suspect momentum is running out here and that should produce some late afternoon selling.