Market Update

I want to get ths out, then I'll follow up wth the rest of the post. Last night in a thin market, Futures were anhilated, implying a market about to fall off a cliff, it was a total farce and similar to what Cramer talks about in the video I posted. I'll follow up showing some of the futures from last night and how they were used to absolutely slaughter the sheeple.

Here's the SPY now.

 Here's a 5 min positive divergence on the open, it's no wonder the market moved up to fill the gap, remember I showed hints of accumulation in the Q's and DIA at EOD trade Friday, it seems a bigger plan was already in place.

 Here's  a 3C 10 min relative divergence on the open this morning, meaning locals bought the gap down and have been riding it up in a mini short squeeze from last night's horrible futures.

 The 30 min chart is still very negative and I view this as a short term tactic on the upside, as you recall last week I was expecting the DIA and QQQ to breakout before we saw a reversal; the Q's managed it, now sectors important to the Dow which were out of rotation late last week are suddenly in rotation today.

 The 15 min chart is clearly negative, thus the shorter term positive divergences are tactics, not strategy, the market is still in a dangerous spot, but the game must be played and the game is almost always a head fake breakout before a reversal.

 Here are two possible breakout points for the SPY, but I think the DOW is the bigger issue.

Here's the DIA and the breakout point, about 120 points or so away, still very doable.

Watch for the second part of this post.