Quick Market Update

This will be one with few if any charts.

Thus far the 1 min intraday 3C charts for the QQQ, IWM, SPY and DIA is doing what it is supposed to do and tracking intraday moves very well.

For the most part, while there is some improvement on intraday wiggles on 2 and 3 min charts, they are staying pretty much in a negative position.

The biggest development is across the board in all 4 instruments, the 5 min chart (which is where the divergences will migrate to an accrue on) are all leading negative and quite clearly.

This is a timeframe in which we cross from intraday movements to more important underlying action.

This isn't conclusive of anything QE related, we nee a decline to get good data on that, but one bridge at a time.

There are some other developments I'm keeping an eye on as well, Credit and Gold specifically. I'll bring you updates on both.