The signals are changing very fast and I'm trying to make heads or tails of this, lets start with a market update and then we'll look around from there. Although I want to be quick, I also want to be accurate.
DIA 1 min
The 2 min is falling apart.
The 5 min looked like it was prepped to move higher, perhaps a breakout move with AAPL which doesn't look like it's coming, it is now showing signs of deterioration, it's almost as if something has happened that has changed the outlook-There's a lot going on, not just AAPL, but the EU.
The 15 min chart even looked good for a solid bounce and it is starting to see at least a relative negative divergence
IWM 1 min is falling apart.
The 2 min showed good strength yesterday and early today, it is seeing that weakness from the 1 min bleed in.
The 5 min chart which looked good for a decent bounce is starting to see the 2 min chart bleed in.
This is the best looking 15 min chart, suggesting a decent bounce, we'll have to see if the 5 min bleeds in to this.
QQQ 1 min falling apart a bit
2 min falling apart.
5 min falling apart
15 min was only in line, we'll see if it starts deteriorating too.
SPY 1 min positive from yesterday and a negative now
2 min is gaining downside momentum
5 min is still in line
!5 min is still positive.
It looks like the market was prepped for a good bounce, which is essentially what we were looking for via AAPL, now it looks like something has changed pretty quick.
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