Market Update

There's little in the way of short term movements or intraday, but there are some surprising intermediate term positive divergences. I was going to mention this as an alternate version of my theory, it went something like this, drop the market today sharply and sell more puts, then move the market up Friday and cause them to expire worthless. You already saw that in the range, the puts outnumber calls (by open interest) 10:1. Either way, I think we still get the rally.

 DIA 1 min offers little short term guidance..

 The 5 min chart has an interesting leading positive divergence.

 The 30 min chart remains in a leading positive position.

 Even the daly chart has an opportunity to put n a positive divergence here.

 The IWM 1 min also offers little short term guidance, there's a possible small leading divergence, positive, right now.

 But look at that leading positive on the 5 min chart again!

 Even the 15 min chart is positive.

 QQQ 1 min has mostly been in line (green arrows) there's a slight positive divergence now.

 Again, the 5 min chart is in a leading positive divergence!

 As is the 10 min chart.

 The 30 min remains in a positive leading position.

 SPY 1 min suggests a little intraday downside.

 The 10 min chart is positive leading.

 The 30 min chart remains positive leading.

So there are some unexpected divergence today. I'll keep monitoring them, there are most surprising.