Quick Market Update

This certainly seems to be manipulation, but it is missing even the smallest traces of manipulation like small intraday positive divergences. I don't know if that means the locals don't want to have any money on the table at all or what, but it's interesting and fits well with the leading indicators and the view that today is a tactical gift like yesterday.

We did have that accumulation last night as I mentioned in the post, "One More Time", who knows, I can show you what we have now.

Using the SPY as an example...

 There's no positive divergence at all on even the fastest of timeframes, the 1 min chart, we have a bit of a negative here that has pulled back as it should on that signal, I don't see why it can't move a bit higher, but it does seem to have a roof.

 The 3 min chart would be interesting as well to see what's in the middle between 1 and 5, again, no positive divergence, not even a hint of one at the lows/reversal and more importantly there's some larger damage being done this morning.

 At the 5 min chart and this is why I say there seems to be a roof on this, there's nothing but damage, no hint of anything positive today or otherwise, leading at a new low. This is the kind of market I want to sell in to or short in to.

 I figured maybe the DIa would be different if they were going for the Dow headlines, but again, no sign of the smallest positive divergence and if they were taking it to new highs for the head line and to suck in retail over the weekend, there's no reason they wouldn't take a small position and ride it.

 DIA 5 min also leading negative at a new low and no signs of anything positive.

 QQQ 1 min is the closest to a positive divergence, it would be a weaker relative positive, but truthfully it's not even that as it would have to be flat, not sloping down.

QQQ 5 min also no sign of anything positive and hitting a new leading negative low in to some price strength, a gift tactically.