Market Update

Here's the key intraday pattern to keep an eye on..

 This is the intraday triangle that has developed. Remember that these very obvious patterns are very often manipulated with false moved. Thus far we do have an upside breakout of the triangle, but little in the way of volume confirmation.

 Looking at the 1 min 3C chart (which is often the middle men of the market-market makers-specialists, etc accumulating/distributing intraday moves) there was obvious support to move this to a break out. the effect would be to pull in bullish traders on the breakout, whether it holds or not remains to be seen.

Here's the more important 5 min chart showing a pretty unambiguous negative divergence between price and 3C.

So once again, the question of whether that breakout holds or reverses and breaks down is the predominant feature of today's intraday trade.