Market Update

 SPY vs Euro (red) well even without Euro support and on no news the SPY has managed to take out that intraday resistance, which I would watch very carefully for a reversal (head fake). USO isn't moving much because the dollar is still holding as the Euro has weakened in the afternoon. This looks like a manipulative push to try to get some momentum trades chasing a intraday breakout, likely it will be sold like everything else has been since yesterday.

 I figured I'd take a look at transports and they have a nice parabolic move (those usually don't end well) and in to a negative divergence as well. This is a lot like yesterday at the end of the day.

 The Q's saw a positive divergence as they were down a lot very early so there's not much of a surprise there, I would watch the tech trades you may be interested in, AAPL for instance.

 XLF is doing the same thing it did yesterday which I warned about, the parabolic move off a mid day positive divergence, but it's already in a strong relative negative divergence, so as I said, it looks like Wall Street is selling this pop as well which is what I'd expect on any strength right up to the 27th.

XLK is pretty much in line with the NASDAQ positive divergence.

The Euro continues to offer no support, there's no news that I'm aware of so we pretty much know what this is, it didn't end well when the ran it yesterday, at least not for the QQQ.