Early Market Update

The market is leaking lower following the Euro nearly tick for tick, remember yesterday's late day volatility, this kind of change in character is often a sign before a change in the market.

 DIA 1 min showed us a strong leading negative divergence especially into the late day volatility.

 The 5 min leading negative divergence confirms what I have thought about this bounce since before it started, 1) it would be Euro based 2) it would be used to sell for end of year window dressing.

 QQQ 2 min

 QQQ 5 min-both confirm the same, confirmation is what is most important in 3C.

 SPY 1 min

 SPY 2 min

And a rolling SPY 5 min.