Quick SPY Update- 3C Lesson

You've heard me say it many times about 3C charts, "When in doubt, go to the longer term charts" as they have less noise, more trend and the longer the chart, the more important the signal.

Here's what I have been showing pretty much all week (and last week) except the first chart which is this morning.

 SPY 1 min was negative here as you can see before the drop today, however we did see ES run up overnight.

 SPY 5 min-this is the timeframe where things start to get more serious for trends and signals

SPY 15 min has always been a key timeframe-here it is leading negative.

For now, the longer charts seem to have won.

Don't forget yesterday's longer charts in the Euro and $USD...

 $USD 15 min positive divergence

Euro 15 min negative divergence.

So far, both were right on.