Market Update

As I mentioned last night, a downside head fake will have to be convincing, otherwise there's no reason to even run it. The way these 10-15 min charts are shaping up, it's looking like the pullback will be sharper then what we were looking at yesterday. Just keep in mind the nature of the longer term/ longer trend charts and how bullish they are. So we should be in for some volatility. If you want to run a short term trade and can watch t during the day, you could use inverse ETFs of the market indices or go long VXX, however, the short swing trade on VXX I believe I would let stand unless you are the type how can trade nimbly in and out of positions.

 DIA 10 min leading divergence is getting sharper.

 IWM 15 min leading negative divergence is also deeper.

 QQQ 10 min is still in a leading negative position, the 5 min has given more ground.

And the SPY 15 min negative divergence.