Consolidation of a consolidation...

Two simple charts...

 In my first market update there was a negative divergence around 10 a.m. and then the market was pretty much in line, it appeared to me to be a consolidation and then the consolidation formed. In my last market update I said there are some early 1 min positive divergences suggesting the consolidation may be about to move higher...

The bigger consolidation is today's intraday bull flag and then it broke out on that 1 min positive divergence I mentioned and has formed a second smaller consolidation!

I really don't care for consolidations here, I'm not saying it's bad, it is simply that whenever there's a recognizable chart formation, Wall Street usually plays with it and creates those head fake moves. We'll see what this one does, as you saw in the first market update the overall position of 3C is good, but in the near term and with intraday trade, it's all about shaking people out of positions, this is why I try to keep my stops EOD for trending positions as intraday trade is often just a lot of manipulative noise.