Quick Update

As the SPX moves just above the highs from yesterday, the intraday charts are all going negative-each to a different degree, most were negative but are getting worse intraday, but this includes the SPY, DIA, QQQ, IWM,  ES, NQ and TF. In other words, prices up here are under distribution as expected. As far as a high probability set up, it seems to be working out-I wouldn't rush in yet, but recall yesterday the 10 min chart was still in line and it was the 1 chart that was the bridge between the intraday negative divergences and the longer term, it was right in the middle and needed to turn negative. Take a look today...

SPY 10 min chart at a relative negative divergence. I'd prefer to see a leading negative, but we have to start somewhere and we have.