Market Update

As I said things are moving fast, so I'm not going to capture charts.

The initial negative divegrence that has held even though there had been some improvement was only enough to create a small move up in the averages.

As of now I think we have very clear short term/intraday negative divergence in all of the averages, in most of the 1 min index futures and where we don't have strong 1 min negatives we have them forming on the more important 5 min charts.

This should certainly lead to a pullback that seems to have been building most of the day.

Again, unless dealing with specific assets, for the most part I don't see much to do, at the lower end after a pullback there will be or should be long entry positions that look favorable and as we move lower there's an opportunity to cash out of short positions or ETFs if you intend on trying to trade around them.