Market Update

For the first time this morning the NASDAQ Index futures have moved from nearly perfectly in line with price to a positive divergence, you saw the other opening indications for the other averages, but since then the QQQ 1 min has grown stronger, the IWM seems to be moving off that 5 min positive which is also stronger, I can't say anything about the SPY other than it may draft the rest of the market and ES doesn't look all that bad, finally the DIA 1 min is stronger.

The TICK chart looks ok, it's not diverging, it did call out 1 turn in the market a few minutes before the actual turn and this is why I think the 1 min TICK should be in everyone's tool box even if you are not trading in that timeframe.

The SPY is in white, at the green arrow the TICK started moving up before the SPY, which is a leading positive move and they tend to be effective.


Also AAPL's 1 and 3 min are stronger than they were, the 5 min is just as strong as last night and the 2 min looks like it could go positive here.