Market Update

Here's a full SPY Update for perspective

 SPY 1 min with 2 relative positive divergences and a leading positive


 SPY 2 min with a good relative positive on the open

 SPY 5 min has a relative positive within a leading negative


 SPY 10 min all pretty negative

 Here's the entire trend on a 15 min from accumulation to confirmation to distribution. So I would, as yesterday, use any strength in the market as a tactical entry for your short positions. Remember that I personally would fill out the position when the SPY breaks below $118, I would probably keep my positions to 65% of the final intended position and fill out the rest on that break.

 DIA 1 min relative positive in to the open, of course it is best to add when strength is about to reverse, if you don't see that in the updates as it happens quickly, then I'd watch the trend of the 1 min NYSE TICK chart, when the uptrend is broken, you are probably in the area.

 DIA 2 min, this s the divergence mentioned yesterday, regarding seeing some intraday strength today.

 DIA 10 min is in line after distribution at the top.

QQQ 5 min-the same divergence I talked about yesterday which should lead to intraday strength today.

Even though we are seeing a small pullback here, I think the 5 min charts being positive suggests more strength intraday so I wouldn't add all at once, but leave room to add into additional strength, phasing into the position.