Dow Full Update

Today intraday, the Dow seems like it will test $13k

Over the last 5 days, I count (eye-balling the chart) at least 17 times price has crossed above the $13k level, not to mention how many times it has crossed below, so if we were playing the drinking game, we'd all be darn drunk. Strangely, there's VERY little volume at crosses above or below, I know traders are about as superstitious as they come, maybe the 13 is spooking them. In any case, this would normally be a major breakout, the reaction has certainly been strange.

DOW 30 (green) vs Dow -20 (red)

 Intraday you can see the DJ-20 has offered no confirmation, no support to the Industrials.

 Here's the divergence on a 15 min chart

 And on a daily chart, notice how they are usually very much in sync, the only divergence previous to this one was when the DJ-20 declined at the July Test and the market dropped viscously.

 3C intraday today, we see the positive divergence around 9:45 mentioned earlier and in line trade with a slight negative bias.

 The 5 min chart looks worse...

 As does the 15 min chart that bounced off support and a positive 3C divergence in white.

 The 30 min above and 60 min below show how bad the divergence really is, it may seem "out there", but it's no worse then the risk asset divergences.

Below is a daily chart.

3C called the July decline as well as the August bottom and did so several days in advance when everyone else thought there was no bottom in sight. 3C also called the strong October rally, this weekend I reviewed the posts from that time and we were looking for a new low followed by an extremely strong rally several weeks before the October new low and rally, then we were looking for a strong head fake move to be followed by a very strong decline-so far everything has worked out as we saw it weeks before the new low except the last step which I still firmly believe is coming as even the daily chart is negatively divergent.

It's not just 3C, but Money Stream on both the DIA and Dow-30

 MS DIA daily negative divergence

 MS Dow-30 daily negative divergence