Quick Update

Turn your head for a few minutes to look at some other assets and things move fast.

The ES negative divergence intraday never got better so we are seeing downside from that now; NASDAQ future are still trading in line even with a little downside.

The SPY has a sharp 1 and 2 min intraday negative divergence, the 3 min is still in line.

The QQQ as you might expect is nearly perfectly in line on the 1 and 2 min charts, you may recall that the QQQ didn't go out as far in its positive divergence yesterday like the IWM did the day before, so at 3 min , 5 10 and 15 min (all intraday views) we have a negative divergences.

The IWM still isn't giving us much to go with, the overall disposition of all the charts is in negative territory, it saw a lot of damage yesterday, but beyond that, it almost seems like it's just going to loiter around this area for a bit.

The DIA has had the most consistent signals that are what I'd call in line, today is probably one of the first days they have seen some more damage.

Without really taking a longer look at not only the signals, but potential areas of interest (price patterns, support/resistance, etc.) it's difficult to say what is going to happen next because this is one of the rare occasions that there's actual rotation among the averages.

Just off the top of my head I'm thinking tomorrow the Q's may start to rotate out possibly later in the day and the SPX rotate in.

I'll let you know if I see more before the close.