Market Update

Luckily Telechart is back up, unfortunately StockFinder is still updating data, I usually use SF for market updates because of the diversity of timeframes and the longer bar history. For now, until SF has finished downloading market data, I have to use Telechart, not as specific as I would like, but better than nothing.

 All of the 1 min charts like this DIA have at least moved up, but are showing some negative divergences, this is the selling in to strength or shorting it that is the very reason for the entire move higher since April 10th. I don't know how far along this is in to the 2 and 3 minute charts, but below we have the 5 min charts.

 DIA 5 min shows a slight negative, but mostly still in line, so I'm sticking with the "U" shaped reversal rather than a "V" based on what I see, but when the reversal does come, the "U" shape should be sharper than usual, more of a parabolic curve.

 IWM 1 min showing distribution as expected.

 The 5 min from yesterday's positive is still in line with price so no negative divergences have been strong enough to effect the 5 min yet.

 QQQ-seeing strong 1 min negative divergences

 5 min is still in line

 SPY seeing strong 1 min negative divergences,

The 5 min is still in line.

The picture I get here is the market is doing what we expected, but there appears to still be time left, I'm not expecting an imminent crash.