Market Update

Other than AAPL with a relative positive intraday divergence (relative divergences are weaker than leading divergences), the only other place I can quickly find an intraday positive divergence in in the NASDAQ e-mini Futures. Any momentum in the other averages (if we get it), would simply be correlation draft.

 The NASDAQ futures have a 1 min relative positive and slight leading positive divergence, this is an intraday timeframe so I think it's only objective to show what else has happened today.

 This is the NASDAQ mini Futures on a 60 min chart, while there are worse looking charts, I think this shows the most 1-day damage done on a significant timeframe since futures opened for trade this week, note the nasty leading negative with all of that damage done today on a 60 min chart!

 The same can be said for the S&P 500 e-mini futures, there are worse looking charts, but on a 1-day basis, the leading negative of the 30 min chart is pretty extreme.

 The DIA 1 min shows little reason to expect a bounce so if it participates in an intraday move, it's simple market correlation which has been running very high, although the NASDAQ is changing that today.

 3 min leading negative DIA with today's damage alone.

 QQQ 1 min shows no positive divergence

 Here's the intraday view, nothing except confirmation of the move down.

 15 min QQQ damage

 SPY 1 min shows very little reason to believe in a bounce and lots of damage.

SPY 15 min with an extraordinary amount of damage done the last 2 days.