Quick Market Update

This is a little myopic, but I figured I'd let you know just in case it turns in to something else. There were lots of intraday (1 min.) negative divergences at 11 a.m. and 11:15 a.m. this morning, in the SPY (which is currently in line with price), the DIA which is leading price a little lower, in the QQQ (in line with price now), and IWM (also in line with price).

I'm guessing this is just intraday jiggles (volatility) and probably nothing, but as you know, new divergences start on the earliest timeframe (1 min) and if strong enough, migrate to other timeframes. So I wanted you to have that basic information in case there is a change so I don't have to post a lot more charts than needed.

I will keep an eye on the 1 min and the 2-3 min to see if it keeps up and if it starts to migrate. If that happens, then the probabilities for earlier weakness in the market start to rise.

Also keep an eye on MCP, it's peaking above the apex of the triangle-watch for volatility, head fakes. etc. If you are in the trade you can email me for an update.