Opening Indications & Market Update

The opening indications look perfect, the QQQ I think is the best example, but all the averages are similar and the follow through trade is moving like I would have suspected barring a gap down open, which I'm glad we didn't see as early gains or losses are hard to hold throughout the day.

 The DIA 1 min, like all the others, shows the early rejection of the gap up, although it did hit an area that would trigger some stops.

 The 2 min charts all vary a bit, but they are migrating in the right direction.

 The 5 mi chart shows the larger trend/probabilities for near term trade and this move today which we could call a head fake gap up thus far is reacting (price) exactly as it should considering the charts including this 5 min.

 IWM 1 min also shows the opening gap seeing almost immediate distribution in to the gap.

 The 2 min which warns that would be the case...

 And the larger 5 min picture-at least these are the charts caught up to trade at this point in the day, there are longer term charts in worse shape, but they need more time to develop.

 QQQ 1 min shows a small accumulation area, I'd have thought it was burnt up late Friday on the closing action, but as you can see the gap is part of it, but sold immediately on the open.

 2 min chart is perfectly in line intraday

 And the bigger picture 5 min chart is leading negative .

 the SPY 1 min with the same small positive divergence before late closing trade Friday and the gap up just sold from the get-go.

 SPY 2 min leading negative here...

And 5 min is the same, the longer trend view looks worse, but I'm interested in what today's action is like and how it interacts with late last week's.