Market Update

Well this is a confusing mess. All I know is the longer term charts look bad, so I took partial profits on my shorts and will hold the rest , even if we are setting up for an end of day bounce or a Monday morning bounce.

 DIA 1 min is not acting well, but not off a cliff either

 Same with DIA 5 min

 IWM 1 min looks better

 But the 5 min isn't showing the accumulation in to the test.

 QQQ 1 min looks pretty good here.

 The 5 min doesn't look as strong as I hoped for earlier, but not bad either.

 SPY 1 min is still in the area of a possible bounce, but just hasn't added the strength we usually see on a test of resistance.

The 5 min doesn't look bad, but it did not add the strength I hoped to see earlier for a bounce.



As for those longer term charts I mentioned...

 IWM

 DIA

 SPY

QQQ

All suggest this market will see lower lows before this is through.