Market Update

There are a few more divergences between the averages right now, some are growing.

 DIA intraday 1 min is NOT looking good at all as explained in the last post. The 2 min is not this bad, but it is negative as well which suggests pullback more than lateral consolidation on an intraday basis.

 1 min IWM is starting to build a new positive divergence, it may take a little while longer to complete, but I do think probabilities are higher that the IWM will lift and perhaps lift the rest of the market with it at some point not too far off intraday today.

 QQQ 1 min is in line so that's better than what we are seeing in other averages.

 SPY 1 min, I feel good about the management of the calls so far, I'm hoping for an IWM sponsored push that inspires the invisible hand to try to make that new nominal high.

SPY 2 min has a decent positive from yesterday so I think the chances that there's till inventory or "fuel in the tank" are pretty good. Just like most of the week, the SPY is tracking the Euro and to lesser extent the EUR/USD fairly closely.