Opening Indications

I can't say I'm surprised that we are up this morning in most of the averages, I am surprised as to the reason as it seemed AAPL would be the reason, but the divergences son't tell us what or why, just that there's underlying strength, in this case short term. Last night's closing indications post made this clear.

From last night's post linked above after it was clear AAPL wasn't taking the market higher:


"**UPDATE-AAPL's earnings aren't impressing anyone and the real item that counts, guidance is lighter than usual and that's saying something for a company that always guides lower.

The short term charts still have several short term positive divergences and we still have a long night ahead of us, we'll see whether we get the short term move up that many of these charts seem to indicate, the longer term and more important charts have stayed negative and that's what we expect the trend to be, although it will be scattered with noise here and there/counter trend moves."

And even without AAPL, the short term chart were right.
 Here's a quick look...

 The DIA posted a nice positive divergence yesterday afternoon, although on the short term timeframes.

 The IWM did as well, this is a 5 min chart.

 The Q's are a little lagging, but they are picking up this morning after the open.

And the SPY positive divergence from yesterday.

Overnight and in to the open post coming...

Remember these are short term indications for a move higher, one I have called noise in the trend.