QQQ/IWM Chart Request

On Friday of last week I mentioned that the QQQ are not looking too good and off doing their own thing as opposed to the other averages.

Heres the SPY for comparison

 As of Friday last week, the SPY saw consecutive positive divergences at the lower triangle trendline (divergences marked with arrows, the areas of divergence in the boxes).

 The IWM has been a bit more neutral then the SPY, but nothing like the Qs. The posture of the 3C charts can clearly be seen in the % moves today in each average with the Q's being hit the hardest, the IWM in the middle and the DIA/SPY being the closest to unchanged. The 5 min chart above of the IWM doesnt look particularly good right now.

 The IWM 1 min chart makes a bit more sense, you can see the positive divergence late Friday and into this morning's open which lifted it into the green for a bit this morning. At a 1 pm there was another positive divergence lifting the IWM a fraction of a percent. Right now it appears a negative divergence may be early in the making.

 Contrast the above, especially the SPY chart with the QQQ which has been negative since Wednesday with NO signs of anything like a positive divergence.

On the 1 min chart, there was no opening positive divergence like the rest of the market saw, there was the 1 p.m. divergence, but that's the extent of anything positive. Right now I'd call the current divergence negative as it has moved down further since this screen capture.

The NASDAQ is performing roughly in line with the technology sector-See the last chart in this post covering XLK showing it's very negative disposition.

 In the post linked above, I mentioned the breakaway gap in XLK from Feb. that remains unfilled, which is very bearish.

 Compare to the 5 min QQQ chart and you will see every rally attempt in XLK has been met with selling. Both rally attempts here are very close to the resistance of the breakaway gap which is difficult to see, but it's the red trendline at the very top of the chart.

The longer term view on an hourly chart of XLK is also very bearish. Again, note the distribution at the attempts to fill the breakaway gap (in the white box-the same attempts seen above on the 5 min chart).