Market Update

There's definitely some short term momentum loss, but I'm inclined to sit still for a bit longer.

 This XLF 1 min chart is an example of what the averages are looking like on a 1 min scale, this is a leading negative divergence and has slowed the upside momentum as most of the averages have filled most or all of the gap.

 There is some weakness bleeding in to the more important 2 min chart, but I just don't feel like we are at a reversal here yet, this could still very well be a consolidation or even a intraday trading range developing.

 BAC 1 min from positive divergence to some distribution on the 1 min

 The 2 min though is not seeing that weakness bleed through yet.

 DIA 2 min losing some momentum as 3C has the first negative divergence.

 The SPY is more or less in line or confirming thus far.

 There's a little weakness in the Q's but not enough to be actionable.

And the IWM is pretty much in line as 3C moves a bit lower with price. The IWM remains the only of the averages that hasn't filled the gap yet.