Market update

 This is the waste of time  was talking about, we had negative divergences so in my impatience, I just want to get on with it, but make no mistake, the market moving sideways which is very boring and seemingly meaningless, absolutely has a purpose. Remember what I said, tops are a process, not an event. That isn't a slogan, it's an explanation. Think about why this is true-it's true of bottoms too. If you remember my post about the very powerful SPY 15 min chart and how we ended up getting such a sharp rally from a "V" bottom/reversal (which is an event, not a process), then you'll understand why such a "V" reversal to the downside is not/was not likely. Think about it.

 Here are the near term important levels in the market, we are nearing a head fake on the ascending wedge-when you are considering the question above, remember the head fake on this ascending wedge, it is part of your answer.

 SPY 1 min leading negative divergence.

 SPY 5 min the same.

SPY 10 min, the same. Impatience is not a good trait for a trader, but I want to see my members making money, not watching grass grow, but it's all part of the process.