Opening Indications

I knew this morning's opening indications were going to be tricky because of how the short term intraday charts ended the day yesterday, they had been negative long enough to throw the market in to consolidation, then started improving towatd the end of the day, but still had a long way to go to get back to in line status.

Here's what we look like this morning, unless I see some real sharp movement, I would think we carry on with the consolidation from yesterday although we seemed to be starting to come out of it late yesterday.

This 30 min ES chart may sum up the whole update the best....

The ES 30 min chart shows the negative divergence and decline we went through last week and the week before or part of it and then the large positive divergence for the move up we have been expecting that started yesterday if not Monday. ES is still leading positive, but the current position is in a relative negative divergence, that is what needs to make a new high be seeing the shorter term charts that were moving in that direction yesterday, continue to do so and migrate through the timeframes, this is almost like a pause that is through the mid point and starting to ready itself for another leg higher. There's plenty of gas in this positive divergence to continue to move higher.

 AAPL 1 min open is about in line intraday

 The AAPL 5 min chart is in leading positive position, but again the current 3C location needs to make a new high by seeing the faster timeframes continue to improve.

 DIA is basically in line with 3C/price here.


 This is yesterday's view of the negative divergence causing a lateral consolidation and that divergence starting to repair itself to move to a more positive position, this needs to continue to improve and should.

 QQQ was further along than the other averages yesterday, it is much closer to where it needs to be.

 The SPY intraday from yesterday and the start of the positive improvement.

 SPY 15 min longer term in a very positive position, the bigger picture should have more upside, it looks like quite a bit more.