Market Update

Here are the charts... I'll follow up with individual names like GOOG, AAPL, AMZN, etc. I also want to see if there's manipulation back on and what's going on with the carry, which at last glance was doing the same as everything else, "Flight to safety"


I love this so far (other than some frustrating intraday trade), it looks like our short term long positions are going to make money and then our long term short positions are going to make money from all indications, plus we can add or initiate new short positions on our terms as they come to us.

Why? Patience, knowing when to paddle in to the wave and knowing when to let it pass by and wait for the next.

 DIA 10 min-as explained last night, the DIA has the strongest divergences of all of the averages by the EOD yesterday, here's a 10-min chart.

 However going by intraday alone, you wouldn't think so. This is why comparing as many assets as possible, looking for a trend and seeing if it holds water is imperative to successful speculating in the markets. Remember what "3C" stands for!

 IWM 2 min leading positive off a larger basing positive.

 However, don't get too bullish and don't drink the Kool-Aid of a new SPX high, no matter what it does, this is just one of the longer term charts you should keep in the back of your mind and remember what the plan is, "Plan your trade, Trade your plan"

 Even R2K futures look decent intraday

 QQQ 1min positive divergence, I wonder where that came from, hint: "We took a position in the asset earlier today and it accounts for about 1/5th of the NDX's percentage move.

 QQQ 2 min leading positive...

 SPY is moving to a leading positive position.

 Our intraday system for taking the temperature of technical traders, the 50-bar 5 min chart has held as has the Trend Channel.

Momentum is starting to wind up in the SPY.