Intraday Market Update

The market still looks very much like a holding pattern, very short term the move from about 11:50 a.m.  to the recent intraday highs is losing momentum with intraday negative divergences, the middle is where the real information will build in, but it will take a little time, the longer term charts are very broken, so the kind of move we saw on the open of futures last night becomes increasingly probable and this is the increased volatility and amplitude that I have mentioned, a 2% gap down is a pretty darn big open for futures even though in the very short term they have recovered much of that.

Charts coming