Things are moving fast now, I'm just updating the SPY as I'm quite sure the rest of the averages look the same, but I will double check and let you know if there are any divergences standing out beyond these.
SPY 1 min leading negative badly.
2 min looks even worse! Yesterday's predicted bounce can be seen at the white positive divergence, look at where 3C is now compared to yesterday.
The weakness has bled to the 3 min chart.
And the 5 min is no longer in line but starting to lead negative.
Although I don't usually subscribe to "V" reversals, the parabolic nature of this move opens it up to the dangers of the right side of a parabolic move up and that is a move down just as bad or worse in momentum. The 15 min chart is clearly leading negative. I thought yesterday was difficult, today is turning out to be very difficult, very fast moving.
I'm going to be looking at some positions to initiate or add to, even if we manage more strength, we have made it to the zone predicted lat night so I personally don't worry too much if we get further strength as I have hoped for while entering a position in this area, I can deal with a little draw down, but the key for me is not having too big of a position size and a nice wide stop that allows enough room to add on additional strength. I can always fill out positions with the trade working in my favor.
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