Market Update

Yesterday's positive divergences suggested we'd see higher prices in the market, I assumed it was from a knee jerk reaction to AAPL earnings and then a sell-off once the earnings were dissected, but it wasn't AAPL at all. We have the market moving up off the intraday lows just as the short term charts were predicting this morning, we still have yesterday's positive divergences and now stronger divergences today to deal with, all in all, I'd say we still have some decent upside in this current cycle.

 Look at how the DIA 1 min chart is leading to a new local high, this is a short term chart, but a very impressive positive divergence.


 The 2 min chart has seen migration and is leading above local reversal highs.

 The 3 min chart almost looks like a small base with several positive divergences or accumulation zones.

 The price pattern I see looks a lot like an inverse Head and Shoulders bottom.

 IWM 2 min is showing a sharp leading positive divergence from today

 IWM 3 min is seeing the natural migration from the 2 min chart as it should.

  IWM 5 min has a nice leading positive trend.

 Look at that 1 min leading positive in the QQQ today, a really strong move.

 QQQ 3 min chart is overall in leading positive position and the 3 min today has made a lot of progress.


 This 5 min QQQ's progress today is kind of stunning.

 Look at the SPY 1 min, like all the others.

 The 2 min is in line or confirmation.

So is the 3 min, but in leading positive position.

I do think we will see that extra upside I mentioned yesterday.