Market Update

I've been so busy looking at trades and answering emails the market slipped right past me. As usual the SPY isn't showing much that looks promising. I have a feeling XLF and the MERS decision is tearing that one up. Large caps with international exposure in the Dow, well, that's self explanatory. The Q's seem to be the one to watch.

 1 min, as all morning in confirmation not telling us anything.

 5 min though showing support and a positive divergence.

 The 10 min too.

 Anytime you look at the Q's, you have to look at AAPl as the heavy hitter in the Q's-note the similarities in the 5 and 10 min chart below.

This is obvious support so it'll most likely be hit with a run of the stops and limit order, it's what happens next. Pay attention to these two. Don't forget, this is short term "Bounce/correction analysis only-the longer term as of now is looking solidly bearish.