Member's Question

"Do you see anything indicating a bounce into the close/tomorrow morning"

Answer is that the positive 1 min divergences in the SPY and DIA are already playing out, whether they could carry into tomorrow, I don't know, they don't look that strong and there's signs of a negative divergence on the SPY's  2 p.m. intraday bounce starting to form.

The DIA had an earlier 1 min positive and has since moved up, it's in line with price.

I'd be most concerned with the Q's, although the 3C reading there is inconclusive. I'v seen much stronger positive divergences for the end of the day on small intraday moves this week.

The TICK chart has been getting volatile and entering deeper into the negative zone as the day grinds on.

I like divergences that don't need to be analyzed, they should be pretty clear and I'm not seeing anything very clear. So that's my take.