Third Day of Pump and Dump

Last night in the Daily Wrap I showed this chart with the following commentary...

"

 This late day positive divegrence in the QQQ tells me they aren't done with this pump and dump pattern yet, but there's serious damage done so I don't think there's too much time left..."

So far that was right on, but even more right on was the "Pump and Dump". 

Take a look at the IWM, and the Q's to a lesser degree, you already saw the SPY in the triangle post.

 This is the 60 min IWM chart, just to show there's as much damage here as there is on the SPY 60 min chart.

As far as today's specific action and why I keep saying "Use this"...

 5 min IWM leading negative in to it's move or pump.

Intraday 3 min IWM distribution, this is the 3rd day of this pattern of pumping in the morning, distribution  and dumping...

2 min IWM

The Q's didn't have as strong of a signal, but they hadn't done as much either, the 5 min QQQ - compare to the 5 min IWM above.

3 min Q shows the pump that I talked about above from last night's post and why I said we had at least 1 more day and the distribution or dump.

And a 2 min intraday QQQ chart.

You saw the SPY earlier, you may recall, I thought it would come down to either the lower support of the triangle or maybe a Crazy Ivan shakeout.

YOU DON'T SEE DISTRIBUTION LIKE THIS IN TO HIGHER PRICES 3 DAYS IN A ROW ON TOP OF ALREADY LARGE DISTRIBUTION (SEE 60 MIN CHARTS) IF YOU ARE PLANNING ON PUSHING THE MARKET HIGHER AND KEEPING THE BULL ALIVE.