Market Update

This is a written update only just because of the speed of movement in underlying trade, the DIA itself (other than relative action in price) has one of the worst looking 3C charts this morning off the open. The SPY is seeing increased, larger and faster negative divergences here at resistance from Friday's close, but these are developing quickly (as in I look at the SPY and then the other averages and come back to the SPY and there has been a substantial, negative change in that short period). The Q's are going intraday negative and maybe more important for the Q's AAPL is as well. The IWM is also seeing a sharp negative forming up.

However it may be futures (Index) that are getting the ugliest the fastest.

Most of the Index futures had some form of small positive intraday divergence at 10 a.m., but the speed of this negative right now and size is much more impressive and it's in the others as well, the NASDAQ futures look as bad, probably worse.

I'd be looking for some intraday downside soon.

Don't forget, the F_E_D's Fisher is up at 11:45 so more volatility coming?