MARKET UPDATE-Opening Indications

Not much has changed for the very short term outlook (meaning roughly today) since Friday. On the open, the short term 3C charts for the averages are either in line or slightly better than in line while the slightly longer intraday timeframes continue with Friday's leading positive divergence which suggested to me some backing and filling in to Friday's gap.

 DIA 1 min is slightly better than in line on the open with a slight leading positive divergence.

 The DIA 3 min chart remains leading positive, suggesting near term upside.

 The IWM 1 min opened to a leading positive divergence, not confirming price.

 The 5 min chart is still in a nice leading positive divergence started Friday.

 QQQ 1 min opened better than in line with a slight leading positive divergence, not confirming the downward move in price.

 The intraday 3 min chart is also still leading positive from Friday's building divergence throughout the day.

 The SPY 1 min is nearly perfectly in line with price (confirmation).

However the next longest timeframe at 2 mins. is still leading very positive, again this is an intraday timeframe and as such suggests shorter intraday moves, perhaps as long as a day and suggests some price strength likely in to Friday's gap.