Quick Market Update

This may allow some positions like AAPL mentioned earlier, it needed price upside with continued 3C negative divergences.

None of the averages had a positive divergence on even a 1 min chart for an intraday reversal except the IWM which as pointed out earlier, has been holding up the best intraday, but this won't change the damage done.

After this post, I'll be looking specifically at positions in place and possible new ones as this is that kind of an opportunity.

 SPY 1 min would be the easiest place for a divergence (or short term accumulation by a market maker or specialist just to turn price up intraday for an hour or so), but even here there's no positive divergence, just trading in line at VERY best.

SPY 60 min has seen a huge leading negative divergence VERY fast, this is very negative for the market.

Even ES / SPX Futures didn't show ANY hint of a slight positive.

 The 1 min IWM does show a positive divergence intraday, no other average shows anything.

That divergence isn't going to change anything about the IWM negative/trend reversal signal above and this is a 15 min chart.

This is a decent time to look to short in to price strength and technical weakness.