Opening Indications

We are losing the opening momentum off the gap fill from the opening gap down and should be heading down as expected late Friday.

The Q's are a pretty good map...

 Intraday 1 min losing momentum and should be turning back down soon ...

This is the 2 min negative from Friday suggesting this would be the case early today...

And the 3 min building an early positive that is dominant (from Friday) and a late negative that is more minor, but still suggested early weakness and maybe forming that second bottom or a "W" like pattern (Friday and today being the bottoms) before a move above Friday's flag, this will depend on whether a pullback intraday is accumulated, but I suspect from Friday's stronger 5 min chart that it will.

 This is the 5 min chart's leading positive divegrence suggesting a "W" pattern forms today, unless we don't get accumulation on the intraday pullback, if that's the case this 5 min should deteriorate, but I doubt it.

This is the intraday NYSE (Custom ) TICK Indicator showing intraday market breadth falling off late Friday and this morning.

If there's one average that may be worth a hitch-hiking trade on the upside, that would be the DIA, it is looking the best by far...

DIA 5 min from negative last week sending prices lower to positive Friday and a nice flat range.

First lets see if a pullback accumulates, then we can look at whether this is worth a quick trade, maybe even an options trade if a pullback causes the DIA to break under Friday's support, that would set up a nice call buying opportunity for a very short term long trade. Or you could use UDOW (3x leveraged long DIA/DOW ETF)