Market Update

I'm not sure how meaningful any of these reading are considering the FOMC statement, but here they are...

 The QQQ 1 min with a negative divergence right off the opening gap up sends it lower, there's a poitive divergence at 10:30 or so, but so far it's traded in line and isn't very big, actually it doesn't look like more then the regular intraday moves we often see.

 The 5 min QQQ is trading in line so nothing to be learned there.

 The SPY also had a negative divergence on the gap up and a positive divergence toward 11 a.m. that is now leading. The price pattern here looks like a small inverse H&S may develop.

The 5 min chart confirms the same.

The IWM 1 min is largely in line with a slight positive bias around 11 a.m. The 5 min IWM is negative and leading lower.

The DIA is largely in line on the 1 min. The 5 min DIA is in a negative stance, more or less leading negative. The longer timeframes in all of the averages remain negative currently.