Market Update

Interesting day so far, as I said, this market is a lot different then the last 2 months.

 Bollinger Band Squeezes-IWM 10 min

 QQQ 10 min

 SPY 10 min

 DIA 10 min, now because of the 3C charts in multiple timeframes, I'm really interested to see which way these will break. My next post will cover the VXX

 So far the pullback has only hit the 50 bar ma on a 5 min chart, not a 10 min, but there are some negative MACD/RSI signals and volume is low, which can be taken a few different way, flat trading ranges with low volume are often accumulation areas. On the other hand, when you have price gains, you want to see volume pick up-we are kind of in a mix of both.

 DIA 1 min still negative, but as I mentioned on the first update, it could lead to a pullback or a consolidation, although I leaned toward pullback.

 DIA 5 min is negative still, not horribly so, but negative.

 The 10 min had an earlier negative divergence sending 3 lower, if not for that, the recent trade is nearly in line, just lagging below.

 The DIA 30 min chart has gained strength today, moving higher.

 QQQ 1 min

 QQQ 5 min

 QQQ 10 min trading in line, just a little stronger then price.

 QQQ 30 min has also added to its leading divergence today.

 SPY 1 min was quite a bit worse earlier, although still negative.

 SPY 5 min has largely been in line with only a recent negative divergence

 SPY 10 min actually added to its leading position, but shows a relative negative divergence within that.

 SPY 15 min chart has clearly added to its leading positive position today.

 And the 30 min has clearly added to it's leading positive today. Just having 30 min divergences is impressive, leading are even more so.

 IWM short charts look like the Q's, the 10 min added to its leading position today

As did the 30 min.

Very interesting day for me.