Market Update

Since the first intraday negative divergence after the market made a run, it has held the market in a consolidation zone, now we are seeing a little more on the negative intraday side, but not enough to do any real damage, so as I suspected earlier, a pullback, but we seem to be very much at the turning point and twitter seems to confirm it as everyone is going bearish/short here.

An example with the SPY...

 SPY 2 min  is a bit more negative intraday after good confirmation, but...

 The 5 min chart is seeing virtually no damage, even the 3 min chart is seeing no significant damage at all.

While the 15 min chart builds to new leading positive highs as retail shorts create the supply institutional money needs to put together a strong/larger position, I suspect that's why we are seeing these 15 min charts move so much today and so strongly.

I'm going to check leading indicators.