Opening Indications

As I have suspected, the market is split or what I have been calling bifurcated. While the pullback this morning was put to good use by the QQQ and the IWM to a lesser extent, the SPY has remained pretty much in line, not seeing the same early strength as the QQQ and IWM and the DIA downright looks bad thus far.

 DIA 1 min negative on the open.

 DIA 5 min also moving from negative to in line with price.

 IWM 1 min adding to the positive on the pullback from the open

 Same with the IWM 5 min

 QQQ 1 min is leading strongly to the upside.

 As is the 2 min and several other timeframes.


 SPY  1 min is simply in line with price

And the 2 min hasn't gained or lost anything, again in line.

I suspected this kind of dislocation on a larger basis, but not on a simple bounce.