Market Update-Charts

Very interestingly, we have strong 1 min and slightly bleeding to 2 min positive divergences, in all cases the 3 min is in line with a negative divergence from yesterday and trade this morning. So far I have to consider this typical gap filling, morning volatility, but I do want to be on the look out for any large divergences building on the positive side. This is excellent movement to collect the data we need to figure out smart money's take on QE3. This is exactly why I didn't make an emotional panic call on Thursday as QE3 was announced.

 DIA 1 min is the exception to the positive divergences

 DIA 3 min is negative and in line.

 IWM 1 min leading positive


 IWM 3 min negative and in line

 QQQ  1 min leading positive

 3 min negative and in line


 SPY 1 min positive

3 min negative and in line