Market Update

We have one more chance for a bounce here...

 DIA 5 min, probably 50% of the time we get a test of the first positive divergence and then a move up, this looks like it could be that situation, although we still could use Euro support, yes I'd like to see a bounce to add shorts. Besides, it's healthy so we don't get an oversold condition.

 The IWM needs to see 3C move up a bit from here to bounce on this test.

 QQQ 5 min-looks the best thus far

 The 1 min SPY also needs to see 3C move higher on this test.

The 5 min still looks decent, but the market will be discounting the German news I posted more then likely, before the EOD.

A test like this would suggest a decent intraday bounce rather then a single positive divergence.