Charts

As a quick update, the intraday 1 min Futures for the SPX (ES), NDX (NQ) and R2K (TF) are all turning quite a bit more negative, leading negative.

 SPY 1 min -all the charts were VERY leading positive on the intraday 1 min chart, most saw a mild negative that led to a consolidation (remember they can happen through price or time, this is through time) and a negative at the intraday highs, but these are NOT extreme or big moves.

 SPY 2 min showing the weakness seen the last few days of last week, but very clearly, today's chart is relative negative, still not a very strong signal.

 The 3 min chart (and this is where it STARTS to get interesting) is in line, slightly leading, what happens from the 5-15 min timeframes is what I'm most interested in moving forward.

 The SPY 5 min from leading negative Friday to in line and slightly leading positive today

 This is where the real damage is and why volatility becomes an issue, the current area of the 30 min is in a leading negative divergence as we are near the highs. I think I explained this last week as being like a very thin limb, very extended; it is impressive, but once it cracks it breaks hard.

 Dia 1 min very positive on the open, intraday negative at the highs.

 2 min showing the same weakness as the SPY above, not positive today, but also not making a new low in 3C.

 DIA 3 min is quite negative last week, part of the reason a new IWM April Put position was opened Friday, a very strong positive on today's open and a relative negative divergence, all in all, very mellow today considering.

 DIA 3 min, saem theme

 DIa 5 min, same theme, weakness last week, very strong open and a relative negative right now, but not anything extreme at all today.

 This is that thin branch again out at the 10 min DIA chart, leading negative, this is what makes any crack in the market very dangerous.

 QQQ 1 min, consolidated earlier off a positive open and is in line intraday.

 QQQ 2 min a very slight relative negative divegrence

 Same with the 3 min, what is impressive is the opening positive divergence

 QQQ 5 min with a very weak relative negative divergence, the weakest negative you can really have.

 The 15 min is where more serious trouble is and this is where I want to see what develops.

 QQQ 30 min leading negative, this is the kind of chart I'd look at and say, "The fate of this market is already sealed, it's just waiting for the DOA certificate".

 IWM 1 min very positive on the open and in line intraday

 2 min IWM very negative Friday (that's part of why a new IWM April Put was added) and a leading negative, I'm wondering if this is an anomaly or real.

 IWM 5 min chart would suggest real

IWM 10 min chart and some chronology, still a lot of damage to overcome just to get past 10 min.

Futures coming