Opening Indications

For the most part the averages are confirming the gap up, except the SPY. I mentioned the element that made this possible yesterday in the Leading Indicators post in the late afternoon:

"Also the market averages which have seen a pretty tight 3C correlation today (AAPL 3/5 min charts were an example of a relationship that wasn't tight as they were leading strongly) with the intraday trade are at this time seeing positive divergences in the 1 min area."

Early confirmation is good, it means there's no unexpected divergences that are likely to send the market moving wildly in the opposite direction, that the gap up has been confirmed by underlying price action, at least in the near term which is all we can measure this early in the day.

The charts...

 DIA in line

 IWM in line

 QQQ in line

SPY is the only one not confirming.