Market Update continued

DIA

 This is yesterday's Linear Regression Channel continued. In red is FXE/Euro. I mentioned the Euro moving down as the market broke to new highs and said it looked like a set up, also breaks above channels like this are usually short lived and reverse quickly. The channel is now decisively broken.

 The short term DIA 1 min chart shows what I expected yesterday at what I called the set up in the small red box, 3C made new lows as price moved up against the Euro- it looks to have been a major distribution event. 3C is now leading negative.

 The same is confirmed on a 2 min chart.

 As well as a 10 min intermediate chart with Stochastics (longer settings then normal) rolling over.

QQQ

 Here's the same "set-up" in the QQQ yesterday, note the break of the channel today on a large volume spike.

 The short term chart agrees with the DIA above that the "set-up" was a major distribution event and 3C is deeply leading negative.

 The same is confirmed on an intermediate chart and 3C is leading negative currently.
This is pretty good confirmation across various ETFs and timeframes.

SPY

 Again the upside break of the channel, running opposite of the Euro which was strange on its own, as is the upside break of a parabolic channel. Again volume increased today on the decisive break of the channel.

 Short term 3C confirms the DIA/QQQ as well at the "set-up" with the worst divergence of the entire day at that point. 3C is pretty close to leading negative when price levels are considered.

 The 5 min chart which never even confirmed yesterday's rally (calling it a distribution event) also shows the same negative divergence at the "set-up" area. 3C is leading negative in a longer and shorter sense.

 The 15 min chart remains negative.

 As does the 30 min chart.

And a major negative divergence/leading negative divergence on the 60 min chart.