Full Update

As you know, yesterday I expected the market to pullback today. I also felt that the pullback wasn't serious as in the next leg down, but rather a normal, corrective pullback. Thus far the signs seem to indicate that is the case. However, I will continue to look for the message of the market.

 DIA 1 min still leading positive intraday, don't be surprised to see a move up off this area intraday.

 DIA 2 min shows the expected pullback for today and maybe a bit longer, we also see the positive divergence from the 1 min chart bleeding over to the 2 min chart.

 The 3 min chart is in confirmation of the 1 and 2 min on both the pullback today and a positive divergence in the area we are in right now.

 This is why I expected the pullback not to be too serious, the 5 min chart hasn't confirmed the move down, it did warn of a pullback, but it has stayed higher than you would normally expect in looking for price/ trend confirmation.

 IWM 1 min with a leading positive intraday signal.

 The 2 min showing the neg. for the pullback and a relative positive divergence where we are in this area.

 The IWM 3 min chart has remained fairly strong despite giving signals of a pullback.

 The 5 min chart look to be slightly better than in line today.

 QQQ 1 min pullback signal from yesterday and a relative positive divergence this a.m.

 The 2 min seeing a positive divergence as well

 The 3 min with the pullback signal from yesterday and close to a relative positive divergence

 The 5 min chart looks much healthier today than you would expect for a price move like this.

 SPY 1 min, like the other averages showing a 1 min positive divergence.

 The 2 min showing yesterday's pullback signal and a relative positive divergence today

 The 3 min chart showing the same.

The 5 min chart warning yesterday of a pullback, but overall holding up pretty well.

I expect that we will see positive divergences migrate through the timeframes, I also suspect we will see some continued pulling back or some consolidation (lateral movement).