Market Update -Trade Alert

OK, we're getting a little upside, nothing too big here. Today we have a striking amount of dislocation in the market's correlation. I'm guessing this is because of deleveraging. There's about a point of difference between the Russell 2k -currently negative and the Dow currently leading the averages.

Here are the 1 min 3C charts...

 IWM is roughly in confirmation with a slight leading positive divergence-

 The QQQQ you can actually see where the positive divergence took hold so there was a bit of accumulation there, they may gap up tomorrow to distribute it, maybe a little in after hours, but the wild card remains that which even smart money can not discount and that is in world events right now so the amount of accumulation here, which is small makes sense, they aren't going for a big position here.

 The SPY -second best performer today is trading right now slightly better then confirmation and although it's not marked, there's a positive -relative divergence at 1 p.m. to 2 p.m. as 3C stair steps higher. As I've mentioned, there's a couple of possibilities and one is a new high as the market's troubles are becoming mainstream, thus the market looks to make the most people wrong at any one time. This could be some of that or there may be something they are discounting (leaked report, etc) that we are yet to see. I wouldn't chase this though, there's not that much of an edge here.

The DIA is performing the best, ironically it also has the worst looking 3C 1 min chart showing a negative divergence into higher prices.

By the way, an alert for RIG long just triggered so take a look there.