Market Update

I like the parabolic move this early in the day, they don't end well and they usually can't hold out that long. The migration of the intraday divergences is proceeding, I'm a little concerned the parabolic move could collapse before it migrates to all of the intraday charts, the longer term charts are in good position.

I think keeping an eye on the channel in the intraday $NYSE TICK will be crucial in case the parabolic move collapses before the negative divergence migrates through all the intraday charts.

I was going to post all of the charts, but they look roughly the same, same issues and it's too much time.

I'll use the IWM as an example...

 15 min negative, which is the real work

1 min negative

2 min in line-each average is a bit different, most are negative at 1 and 2 min and waiting on 3 min.

I see the TICK is starting to give way.