Market Update... The Trend Continues

When I came back from my mini-vacation Sunday night, it was already late, I was exhausted, but I spent about 90 minutes looking at the market and what I missed, Sunday night I posted that there was a very clear trend of selling in to any strength and that the words, "Price strength" were very relative, whether actual, as in a green close up a half a percent or intraday like the Dow losing 150 points in the morning and then moving up all day to close 2 points in the green, not actual strength by most people's standard, but intraday strength. The point is, in just about every case, wherever there has been an opportunity to sell in to higher prices (even if they are simply higher than the intraday low), that opportunity has been taken. This morning's run looks to be no different.

Also don't forget that we had window dressing for month end last week and today is the last day of the month, trades won't count toward window dressing because of the T+3 Settlement rule, but overall monthly percentages count and underlying action in to the end of the month certainly counts.

 SPY 1 min intraday leading negative in to this morning's run.

 SPY 2 min leading negative

SPY 3 min leading negative with the positive divergence that stemmed from HYG as shown in last night's "Daily Wrap" post.

SPY 5 min showing some trend and some intraday.

DIA 1 min leading negative in to this morning's run.

The positive divergence is the one I talked about at the 11 a.m. lows on Friday or Thursday depending on the average.

 The IWM has had a very clear trend of selling in to almost any strength more so than any of the other major averages, this morning is no different with a sharp negative divegrence this morning.

IWM 2 min confirming as migration of the divergence continues...

IWM 3 min showing the same and all of the concepts discussed (recent trend).

QQQ 2 min intraday, not even close to confirmation and in fact a lower 3C reading.

I'll have more, I'm really looking for anything that stands out of place, we have had some signals before F_E_D / F_O_M_C events, one meeting about two hours before the policy statement 3C just dropped like a rock, I'd rarely take a position back then before a policy statement, but we did and were paid handsomely for doing so.