The earlier Linear Regression Channel update was correct, there was a change in character in the market from a decline to what is shaping up to be a "U" looking type of formation. 3C is pretty much still making progress in all of the averages.
ES intraday and the trend (relative positive) are both increasing to the upside. Signals have been murky this week, some starting at the end of day, some just not that strong, but I don't see a reason for there to be continued positive divergences in to lower prices if they didn't plan on a move higher. A gap fill would almost be a given, but this seems to be more than a gap fill.
DIA 3 min
DIA 5 min trend, strengthening in the trend and intraday
ES continues moving higher.
The IWM 1 min is making a new high over all of yesterday
The 2 min continues with a strong leading positive
The 3 min is doing the same, now above all of yesterday's action while prices are obviously lower.
QQQ 1 min trend today
QQQ 2 min leading very positive, above everything from yesterday
QQQ 3 min still developing with higher highs.
QQQ 5 min with a decent relative positive and starting to lead.
SPY 1 min trend, no down side confirmation today and a continued relative divergence
2 min is leading making new highs for the day
Same for the 3 min
And now the 5 min, the SPY was the laggard earlier, it's starting to see some life in 3C.
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