Quick Market Look

As I type this ES is closing in on the intraday highs, I suspected the Euro move below support was a head fake move, especially after what Goldman said followed by their Greek puppet (former GS employes and former Greek RM), Papademos-thys wanted to accumulate on the cheap, it was very obvious yesterday, it became obvious today after the market broke afternoon support on the Euro break of support.

Actually since uploading these charts, Es is challenging the intraday highs right now.

 The theme is pretty much the same for all the averages, an opening negative divergence as the FX correlation was pretty divergent after the market put in a strong afternoon rally yesterday that ran ahead of the correlation. Taking the market higher in to a declining Euro/strengthening dollar today would have created a lot of risk of a big drop as arbitrage would have been a big issue, thus their attempt to keep the market relatively neutral. If there weren't market manipulation as we have seen being set up for weeks now, the market would be a lot lower today based on the FX correlation. The point here is the head fake in the Euro-yet to be confirmed, but I'm fairly certain it will be, then a move below intraday support at the red trendline, look at the 3C accumulation on the move below afternoon support. DIA 3C is now leading at a new high on the 2 min

 IWM, same theme, distribution on the open, an attempt to keep the market in a consolidation, the afternoon break under intraday support as the Euro broke another support level and a strong positive divergence as the day went on. I purposefully scaled this chart (it looks a little less positive than it is) so you can see the support trendline broken and the accumulation occurring after that.

Tech wasn't shining today, although I'm pretty sure it will be back in rotation with a vengeance. Again, afternoon support broken and a positive divergence in to the lows.

The same story is the SPY which is at a new leading high, remember Financials lit the fire and the SPX is financial heavy vs the NASDAQ which is tech heavy.