In the last post I mentioned quiet markets, I should have made some reference to them being sneaky markets. They lull you in to not paying attention and that's typically when underlying trade is moving the most.
Given the improvement in risk assets, what was seen in the Euro, this market update makes sense, but it almost seems as if even with 3C there's a bit of sneakiness going on, which would not be the case as smart money isn't trying to fake out a small private site with a proprietary indicator that isn't in circulation, but the way the positive divergences look, it may be that in an effort as to not alert anyone as to what's going on through the tape or order flow.
The DIA sneaking up-large caps are always difficult as they are used for many purposes other than straight accumulation/distribution, such as adjusting an ETF. In any case, 3C is above Monday's open.
DIA 5 min-the DIA is the weakest looking of the averages.
IWM 2 min leading positive
IWM 5 min leading positive and it makes Monday's opening negative look small.
QQQ 1 min leading positive
QQQ 3 min leading positive
And the 5 min is back to the highs in 3C from Friday
SPY 1 min sneaking up
SPY 5 min leading
And interestingly the 60 min chart made a new high today.
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