This is to just give you a feel for some of the divergences that have developed today, this fits with the idea of a quick move up and a quick move down, but so would F_E_D reaction tomorrow.
I'll look at some individual assets after this post and the next.
Futures are a little confusing as their signals are not aligned. I think when I do my analysis tonight I'll have a much better understanding, but the F_O_M_C is always a wildcard, unless leaked which has happened at least once we have seen with 3C.
DIA 15 min leading negative divergence and that's almost all from TODAY!
Strangely ES 1 min is actually in a positive position in to the decline.
ES 5 min is deteriorating like I wanted to see, 15 min hasn't started yet, but 5 min i just getting underway.
IWM broke out above the area we expected and this is a 10 min leading negative divergence with ll of the leading done today, strong distribution on that chart, but we have to take the market as a whole.
NASDAQ futures 1 min are slightly negative, this is better than what was there most of the day, confirmation.
NQ 5 min is just starting to move as well, I'd really like to se the 5 and 15 min charts negative in futures before making a final addition to phased in positions, however if I didn't have any started, I would certainly start in this area.
The 15 min chart for NQ hasn't gone negative yet and that's ok based on where the 1 and 5 min are.
SPY 1 min leading negative, there are negative divergences throughout the SPY timeframes.
Please check out my F_O_M_C post next.
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