Market Update

Odd action today...

 DIA 1 looking a bit negative on the 1 min chart-you can see the early morning accumulation that I mentioned in all the averages below as well.

 DIA 5 min. This chart is roughly in line. Mubarak i scheduled to speak in about 20 mins, so we'll see what effect that has on the market but the negative divergence in the 1 min chart hasn't been too strong as it's not present on the 5 min chart. THIS IS SHORT TERM ACTION WE ARE LOOKING AT-not macro trends.

 IWM 1 min, seems to be in confirmation for the most part, not to much in the way of intraday distribution

 IWM 5 The 5 min is marginally negative, but that's a carry over from Tuesday.

 QQQQ 1the Q's showing one of the worst 1 min negative divergences.

 QQQQ 5 and it has carried over to the 5 min chart. Keep an eye on tech stocks.

 SPY 1 min showing a recent possible negative divergence-possible because it has not yet turned down to complete the divergence.

SPY 5 the 5 min again showing some carry over negativity from tuesday, the question is whether 3C turns down forming a negative divergence.

This is an update for our short term traders and not as of yet having anything to do with longer term trends.