Market Update

First we expected a pullback, second right from the start of trade the gap up was not confirmed, third there were negative divergences on the intraday timeframe, the weekend is perfect to say Greek sentiment has shifted and take the market lower. Like I said, it could be a pullback only, but it could be uglier and even a new low to set a nice bear trap, either way it should be a nice opportunity.

Here are the intraday charts as they have continued to develop, notice they are all worse than earlier, but still intraday. The TICK is now in the negative.

 DIA 2 min

 IWM 2 min

 QQQ 2 min

SPY 1 min