Quick Market Update

The last market update re: DIA/QQQ 1-2 min positive divergences is now starting to look sloppy, the DIA /QQQ intraday timeframes that were positive are showing weakness now, the easiest, fastest way to demonstrate is with ES which was also showing a 1 min intraday positive.

The ES positive is now getting sloppy. It's not very often, but we have seen occasionally a 1-2 min divergence, whether positive or negative not create an intraday move, but rather an intraday consolidation of sideways movement. Without the divergence price would likely move lower (in this situation) but instead holds in a range.

We'll see what comes of it, but we do have a nice pivot as I pointed out last night as being the one thing missing from the major averages, this is the chart from last night...

Here are the pivots pointed out last night, note the lack of a pivot as of last night.

Today...