Market Update

Much earlier today I showed consistent signs of a short term positive divergence suggesting a consolidation or bounce, we have seen both.

 SPY 1 min positive with a consolidation followed by an intraday bounce.

 DIA 1 min showing the same

 However it is no effecting the bearishness of the longer term signals like this 5 min DIA chart in a leading negative divergence, also showing signs of an intraday bounce.

 QQQ 1 min positive divergence and largely in line

 QQQ 10 min shows signs of the bounce, but still hasn't changed the negative picture of a leading negative divergence.

 IWM 1 min with a leading positive divergence on the intraday bounce

 However, once again it's not helping the 5 min hart which as I have numbered, shows 3C making lower highs/lower lows, or becoming more negative despite some positive price action intraday

IWM 10 min also shows no sign of improvement from the intraday bounce.

Wall Street is up to something, what or why, I don't know, but look at this.

 Here's the SPY bouncing for the last 1.5 hours.

Yet over the same period the Euro has weakened and the dollar has been stronger, this is exactly the opposite price reaction you would expect to see.

It seems clear to me that Wall Street is moving the market higher intraday, while it seems they continue to distribute in to the intraday strength. This is Wall Street's game. This isn't seen very often.