Short Term SPY Update

It takes so long to capture and post all of those charts, the short term charts can move quickly, so here's an update of the short term charts.

 The 1 min looks a little stronger now

As does the 2 min.

Even though the positive divergences have already caused at least a lateral consolidation, I think there's a good chance of an intraday bounce in to the gap. I personally would use that intraday strength to add to my short positions. Ultimately though, $118 is still the level I'd like to see broken before getting very aggressive. We also have GOOG earnings at 4:30 so a bounce could be used to get better positioning and lower your risk as you'll be closer to a stop out level.