Quick Market Update

I need to move on, but I think it's important you see this. These are all timeframes that are more than capable of moving by this time of day, especially on any large activity.

The interesting thing is that intraday charts are nearly perfectly in line, they aren't leading positive, they are in almost every case leading negative within the trend.

My view is that this is just a reflection of retail money moving in the market.

When you look at the trends of the faster timeframes or you move out to the timeframes where we see institutional activity, there's no improvement in today at all, in fact with the market where it is and no improvement-in some cases they are worse, is an automatic negative as 3C should rise with price even if there's just the kind of following along we see in the retail driven 1 min charts.

I think there are bigger discoveries out there to find, but I want to give you a feel real quick before I move off in that direction.

 SPY intraday-look at the green arrow/box, that is today and the SPY 1 min 3C chart, perfectly in line, except a small negative divergence right now which is doing at least what it should and creating a consolidation which is the minimum, a pullback is the other possibility.

The 1 min trend though, which could have shot up in a straight line positive divergence has seen no movement of any significance at all. The chart above depicts the distribution of Friday's breakout move from the triangle.

 2 min chart- no upside movement, still leading negative.

Same on the 5 min

Same on the 10 min

All of these timeframes could easily move by now, it could have shot up vertically (3C). we've seen it many times before.

IWM 1 min

IWM 5 min

IWM 15 min

QQQ 1 min

QQQ 2 min

QQQ 5 min...

I'll bring you whatever else I find, I'm going to be looking much deeper now that I've seen the underlying trade as Bernie spoke.