To be thorough and to save time, I'll use the SPY as a full example and then give a few different timeframes among the other averages. At this point all I keep thinking is that I'm glad I don't make emotional decisions and rather wait for the objective data to come in.
SPY intraday has gone even more negative, 1 min
This is a closer look at what has happened since Friday on the same chart.
Right now or as of this capture, the SPY Vs. TICK doesn't look very good, TICK is falling off badly.
SPY 3 min didn't skip a beat and continues leading negative as if nothing ever happened except more distribution.
Same with the already ugly 5 min chart
The 10 min chart leading negative
The 30 min chart leading negative at two equal highs.
DIA 1 min
DIA 5 min
DIA 60 min
IWM 2 min
IWM 5 min
QQQ 1 min
QQQ 2 min
QQQ 5 min.
All in all, it doesn't look good at all for the market and the positions that we had good reason to enter Friday still look good, in fact better.
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