Thus far it's starting to look like the IWM/SRTY plan may be coming together. There is intraday support building in all of the averages EXCEPT, ironically the SPX as it has behaved bette than the NDX today intraday.
However don't confuse intraday 1 or 2 min positive divergences with strength, the longer the timeframe the more significant the signal, these are short intraday timeframes and although useful in intraday movements, aren't showing us the real underlying accumulation/distribution.
As you saw with the IWM charts and have seen last night in others including the NDX and SPX, the longer term charts aren't looking good.
AAPL 1 min positive intraday
AAPL finding support at support, although they did hit stops just below support, check intraday volume on the break below the trend line.
DIA 2 min-by the way, the DIA has had some of the better 3C trade today vs say the QQQ.
IWM 1 min building since the last post.
Even NASDAQ futures intraday is seeing a positive divergence here.
QQQ 2 min positive divergence.
The SPY is not showing a positive divergence at all. It should draft the rest of the market, but that does speak to weakness there.
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