Quick Market Update

 The IWM, along with the SPY, DIA and QQQ all broke support this morning, as usual, we almost never see a clean break anymore and instead a volatility shakeout, they are pretty easy to identify as you'll find a bullish candle on increased volume like the one seen above (not very bullish, but a long lower wick).

 Since the 21st, the longer term charts have been deteriorating in to a worse and worse leading negative divergence.

 The short term charts have been frustratingly in line for the most part as can be seen here.

ES is still giving some decent signals, but I've noticed the positive divergences now are not carrying the market as far as they were say 3 weeks ago and this trend has been accelerating. Above in pre-market ES, there was a negative divergence sending ES lower, then a positive divergence that only halted the decline briefly, upon the break of support this morning around 10 a.m. we see another positive divergence which is to be expected as we almost always see that volatility shakeout on the break of some important support.