Market Update

Well I captured them, might as well post them...

 SPY 5 min divergent at the highs today.

 As shown on Friday, there's a lot of damage to the 15 min chart in a short period of time.

 The DIA started the day with no confirmation and went south from there.

 The same happened on the 2 min, a longer intraday timeframe, as it has seemed obvious and as I have stated last week, this bounce seems to be all about short selling in to strength, otherwise, why weren't other risk assets, especially oil which has good reason, not participating?

 DIA 5 min, down the drain.

 And as pointed out Friday, the 15-30 min charts have fallen apart VERY quickly. These are the charts that most often signal sub-intermediate trend changes.

 Very weak QQQ 1 min

 The QQQ 2 min was leading negative before the announcement was made! Leaked?

 And the longer term problems on the 15 min chart.

 XLF as you remember from an earlier update as well as many other individual financial stocks looked the same.

 Another longer XLF intraday chart, leading negative divergence, the worst kind.

As per Friday, XLF 15 min, major problems apparent.