AAPL Factor-Market Update

I'll show you the intraday futures and averages, they'll all be in line on an intraday basis except for NQ (NASDAQ 100 futures) and QQQ, the reason I believe is AAPL, I think the locals are reading the AAPL tape and that's the reason they are using NQ and QQQ as well a they may have been offering better entries, especially with options.

 ES/SPX futures on a 1 min intraday chart are nearly perfectly in line with price-that's price/trend confirmation, there are no divergences suggesting the current trend (whether it be up, down or sideways) has any strong underlying trade that should move it, although the averages will often draft each other (if 1 moves strongly the others follow), but we didn't see much of that yesterday with the SPY/QQQ

 TF/Russell 2000 Futures are also in line

 Only NQ/NASDAQ futures have a positive divergence.

Looking at the averages...

 SPY 1 min is in line currently (green arrows) just like ES.

 The SPY 2 min looks worse

 However if you zoom the 2 min chart to intraday status, it too is in line.

 IWM 1 min intraday is in line as 3C is moving with price, just like the R2K futures above.

 The QQQ 1 min however has a leading positive divergence.

 When viewed within the trend it's obvious this is intraday only and one of the reasons the AAPL trade may have to be closed quickly as there doesn't seem to be much support beyond an intraday move.

 QQQ 2 min chart is in line, so the divergence is only on the intraday 1 min chart-the weakest divergence possible, but still a higher probability of an intraday move to the upside and the reason...

 AAPL's 2 min chart, after seeing distribution on the open has a positive divergence right now.

 The 3 min chart does as well, this is still an intraday timeframe, but suggests more support for an intraday move higher.

At 5 mins, AAPL is almost perfectly in line, meaning the positive divergence hasn't migrated to that timeframe, which in my view, caps the potential return and this is why I think you need leverage to make the trade worthwhile. At 10 mins above, AAPL is negative, so again it looks like an intraday move in AAPL with the Q's following, but not much more than intraday.

I'm going to see what else we may have that may be more profitable and higher probabilities.