Market Update

Since the 11:10 "early divergence I pointed out, 3C has stayed positive and the SPY has done a pretty good job of holding above the down trend line.

The original divergence at 11:10 at the last update in the white box, and a continued positive divergence in the SPY and other averages. The red trendline is the downtrend line from the decline from 8/3.

The Euro has been selling off since before the open on concerns of a French sovereign downgrade, being 1 of 6 E.U. members holding a Triple A status. It seems the Euro, which has put upside pressure on the dollar, may be finding some footing.