Market Update

Here are the opening indications for the averages as well as last week's underlying trade which shows more history than the futures.

 DIA 2 min with a slight non-confirmation on the open, but a decent positive divergence Friday.

 DIA 15 min in a leading positive divergence through most of last week, also the typical head fake move (at least it appears to be) that we see right before a reversal as DIA broke under support and now back above it on a positive divergence.

 IWM was in leading positive position (2 min) from Friday to start with, there's a relative (smaller) negative on the opening gap up, but overall the 2 min chart is still in a positive position, this is typical of a.m. trade

 IWM 5 min trend through last week shows positive divergences starting last Tuesday and building last week since. Also the typical head fake break below support.

 QQQ 2 min slightly negative on the opening gap

 QQQ 15 min also started going positive Tuesday and built through the rest of the week

 SPY 2 min was leading positive from Friday on the open, a very minor relative negative divergence on the gap up, still the chart is in leading positive position.

The SPY 15 min chart also started building a positive divergence Tuesday through the rest of the week with a break below support Friday. almost certainly a head fake move.

I would still consider this an area to open or add to long positions you may like as we haven't moved that far from the lows and risk is still pretty low on any new long positions. I prefer leveraged ETFs for a swing type move.