Market / AAPL Update

 The DIA intraday 1 min has gone from an earlier positive divergence to a negative divergence as it reached the intraday highs, the movement in 3C down after the negative divergence looks pretty sharp. I'm not making any calls based on this activity yet. I'm going to try to get up an S&P-E mini (ES) update next and then a Risk Asset Update.

 The 5 min DIA is largely in line with price action right now.

 The 1 min QQQ also saw the same early positive divergence and a negative in to the highs, it may be like I suspect with GDX, that because of today's gap down on the perfect storm in the Eu, they may have to lower their average position size if they still intend on creating a bounce, as noted before, this is a very ugly market, but we have expected this to get ugly and more volatile. We still have AAPL earnings tomorrow and the F_O_M_C Wednesday.

 As mentioned in the earlier update and as was apparent late Friday, the Tech Sector and NASDAQ 100/QQQ have looked the strongest of all of the averages in underlying trade, thus the 2 min chart here is still in leading positive territory.

 The SPY did the same as all the other averages, a relative negative divergence at the intraday highs, what is curious is the depth of the move down in 3C after the negative divergence.

 The 5 min chart is at least in line, and slightly leading positive still.

 Interestingly on the intraday 1 min, AAPL saw the same divergences at the same time.

 The 2 min is still not horrible looking, but agin, the move down in 3C after the negative divergence is curious.

 The 5 min chart has not seen the weakness of the 1 min bleed through yet and remains leading positive.

Please though, lets not forget what the bigger picture in AAPL looks like on the 60 min chart, a very deep leading negative divergence. Thus while there may be opportunities for leveraged, quick trades in AAPL taking advantage of the market's volatility, I personally want to start moving away from those trades (at least in smaller size) and be looking toward building an equity short position.