Quick Market Update

 DIA- yesterday at the lows the DIA did put in a small intraday positive divergence, lifting off the lows in to the afternoon, this went negative in the afternoon and sent the DIA in to a closing range, that negative divergence manifested on this morning's gap up open, which quickly failed. The rally off the lows since this morning hasn't seen a positive divergence and is now in a leading negative position.

 The IWM, again the under performer today also saw a similar negative divergence in closing trade yesterday, carrying through to this morning's gap up, which again failed, most of the day thus far the IWM has been in confirmation, which is slightly bearish as it is underperforming and in the red, there is a slight negative divergence on the move up from 1 p.m.

 The QQQ's were leading negative in the late afternoon rally yesterday, the initial gap up failed, but found support right at yesterday's close 9white arrows), since then the rally this has been under a leading negative divergence, fairly sharp at this point and lower then yesterday's.

The SPY also saw a negative divergence in to the afternoon trade, sending it from a rally mode to a lateral range during the last hour and a half of the day, that negative divergence carried through to this morning's gap up and as you can see, the gap failed quickly. There has been no positive divergence off the 10:20 intraday lows and the move off those lows, although originally confirmed, has since gone negative. It is now leading negative locally intraday and a larger relative negative divergence between prices around 1:30 yesterday (and the 3C position at that point) and the present higher prices, suggesting there is less short term intraday money in this move up then there was at yesterday's 1:30 price level.