Tough Nut to Crack

I'm struggling with two concepts, the first is what I see with my own eyes such as (none of these were cherry picked, just pulled them straight from the watchlist in the order they were in)...

 XLF Financials with a VERY sharp 15 min leading positive divergence, I'd like to see price come down and form a larger footprint for the base and a stronger divergence although it's already pretty amazingly strong.

 However move over 1 more timeframe longer to 30 min and the very sharp nature of the 15 min's positive divergence seems to make sense, almost like a sharp upside move, which bear market rallies are known for), leading in to a cataclysmic collapse.

That's the way we have roughly envisioned it and planned on playing it.

 FAS 2 x long Financials 10 min with a VERY strong 1-day leading positive divergence, very impressive, but also very sharp.

 FAZ 3x SHORT Financials with the same 10 min chart, but a mirror opposite, very sharp negative divergence confirming the Financials charts above.

 However jump to FAZ 60 min and tell me, if you had to make a purchase right now and not touch it for 6 months, would this not be near the top of your list?

 SPY 10 min large relative divergence to a sharp 10 min leading positive today so far.

 TF 60 min Russell 2000 Futures are now positive out to 60 min, but again, the divergence is unusual in how sharp it is.

 ES 30 min finally catching up and positive at 30 mins, leading today in fact.

NQ 15 min is actually positive on 30 min charts, but this 15 min really shows the strength that built up quickly and what looks like a pretty solid base/footprint.

 VIX Futures seeing a negative divergence, not large, but a definitive change in short term character, VIX moves opposite the market.

 AMZN 15 min positive

GS 5 min positive...

I could keep going.

On the other side, why would a bounce start to form just in front of the much feared F_E_D minutes released tomorrow?

2 pm tomorrow.

We of course almost always have the F_E_D knee-jerk reaction, but these are the minutes from the last meeting where I noted a distinct, yet subtle change of tone/words and if the last minutes were damaging, I imagine these would be worse.

Unless, there's no September Taper or the amount is much less than the market imagined as the market has a September Taper priced in. Perhaps there's something else, but that would suggest that Wall Street knows what's in the minutes, who could they know that? Well the F_E_D themselves sent out 154 emails containing the minutes to some of the largest institutions and private equity firms, NONE OF WHICH REPORTED THE 24 HOUR EARLY RELEASE, plus ...

Since when does the F_E_D cater to Wall Street by sending them an email with the minutes when these firms have algo's that can scan and trade off the release faster than you can blink your eye? The only reason is to give someone a head's up more than 24 hours before the official release, think about it, a private email list, why would the firms even need it if it the minutes were released all at the same time? They could get the information off CNBC faster than opening the email and their computers do it in microseconds.

How do I get on that list, THAT'S THE TRUTH OF WALL STREET IN ACTION, EVEN THE F_E_D GOT CAUGHT WITH THEIR HAND PASSING OUT COOKIES FROM THE COOKIE JAR.

The question remains, why build a positive divergence and a sharp one that may indicate a fast move or may indicate they just needed to get it done quickly? I think the way today end and overnight trades will tell us a lot. I just wanted to let you know what I'm wrestling with in looking at hundreds of charts.