Quick Market Update

 The SPY stayed negative even on the 3 p.m. rally, you may recall the charts were very negative post FOMC/Pre- JPM. In the yellow box, there was NO positive divergence on the JPM announcement, most likely being a surprise to most of the market. The overall stance even after the 3 p.m. run remains negative.

Short term this am you can see the negative divergence sending the SPY lower thus far, there is a small positive divergence in place for most likely an intraday bounce or perhaps a consolidation.