Charts

First I just wanted to mention AAPL, like yesterday as you may have seen in last night's post, there's a 2 and 3 min positive divergence building in AAPL , it really started around 11:30, unlike yesterday, it's not on the 5 min chart.  Just something I want to keep you informed of, if we get a strong enough 3 min positive we can see a pop and I'd likely want to close AAPL calls in to that if the 5 min chart looks worse that it did earlier today as that would confirm my suspicions.

I'm going to show you a few charts just as a starting point for further analysis built on top of this, these charts also show what appear to be minor adjustments, the kind you might see on an algo controlled op-ex Friday as mentioned before.

We'll start with the QQQ as a broader example. I should mention among futures, ES is not notable, but NASDAQ futures intraday are entering a growing leading positive divergence.

 QQQ 1 min distribution on the open, a small correction supporting the Q's around 10:15 and a small leading divergence, similar to the futures, except the futures is more impressive.

 Longer term 5 min, this shows there really hasn't been any migration of any divergence as of yet, either it's too early having just moved above the level late yesterday or perhaps some op-ex pinning is going on today. Either way, there's nothing remarkable here.

The 5 min chart is pretty close to in line with price today.

 QQQ 15 min chart leading negative, this is the strategic view, it's when the shorter term tactical charts go negative and migrate through the longer timeframes and essentially meet up with this 15 min chart,  we typically see that as an inflection point of some importance.

 DIA 1 min with distribution early today, mostly in line, right now there's a slight relative negative divergence, but if the yellow 3C line moves to a new high on this chart it will continue confirmation or in line status, I put a "?" because 3C hasn't turned down yet and can still move higher.

 DIA 3 min is one of the charts where there is some negative activity in to higher prices, it hasn'e made it much past this timeframe.

 IWM also with distribution earlier today and some very minor adjustments, they are divergences, but I'd rarely mention them except to show it looks like a series of small corrections. Price and 3C are nearly in line.

 After some negative action, especially at yesterday's gap up, trade on the 5 min chart is in line

 SPY 1 min negative early this morning, a small positive to support the lows and a small leading positive.

This 5 min chart is nearly perfectly in line.

We'll build from here, but I wanted to give you the flavor or tone of the market and underlying trade