SPY / ES Market Update

As you may recall, Tuesday I said, "Thursday may look very different than today" on expectations of a pullback that have been in place since last Friday. Here's ES and the SPY with more updates to follow.

 It looks like someone knew something about Draghi's intensions as ES hit its highs in to a negative divergence pre-U.S. regular hours opening. There's a VERY slight relative positive divergence in effect, I don't think it carries much weight, but I've never been a fan of a.m. trade as it can be very misleading.

 SPY 1 min negative divergence from Tuesday with the same relative positive as ES.


 The 2 min negative divergence from Tuesday's close, note there's been no migration of the 1 min positive divergence in early trade to the 2 min chart, this is why I think it is not very strong.

 The SPY 3 min negative divergence in to Tuesday's close, no hint of a positive intraday this a.m. here either.

 The 5 min negative on Tuesday at the close and leading negative this a.m.

And the SPY 15 min chart which gave us the first expectation of a pullback last Friday with a negative divergence on the 29th.

More updates coming...