Market Update

AAPL will be updated next.

The behavior in the averages I mentioned in the Quick Market Update, continues. I'll use the QQQ as an example, but I double checked the IWM, SPY and DIA and the behavior is the same. The 2, 3 and 5 min charts are leading negative. In fact, all 4 are now showing the divergence migrate over to the 10 min chart.

SQQQ, the Ultra-Pro Short QQQ is given exactly mirror opposite signals, which is one way of looking for confirmation.

 QQQ 1 min (green represent 3C/price trend confirmation, basically the price trend is expected to continue until a divergence sets in). I have not only highlighted the negative divergences (red) and positive (white) with arrows, but have notated the approximate area of each divergence on price (usually boxes are used on 3C to denote a stronger leading divergence where as arrows are used for the weaker relative divergences). There are some pretty wild swings, but 3C 1 min is tracking divergences/reversals well.

 The 2 min chart leading negative

 The 3 min chart with the initial relative negative divergence from yesterday to the a.m. highs and a leading negative divergence is migrating over from the 2 min chart.

QQQ 5 min leading negative divergence.