Quick Market Update

This is what I was looking for to happen on a move above $102, remember, "Let the trade come to you, sell short in to price strength with underlying weakness".

This is the intraday 1 min QQQ chart, there's a negative intraday divergence, this is not reason to start selling the Q's short, but so far it is moving in to the more negative charts that were expected on a move above USD/JPY $102, which was the backbone of the set up.

So far the migration of the divergence has moved the 3 min chart to a small negative divegrence in QQQ.

There's still a reversal process, we are still looking for stronger/longer charts to go negative, but this is a great start to expectations.

 This is the 3x short QQQ ETF, SQQQ. Note that there's confirmation as the 1 min SQQQ see a positive 1 min divergence (mirror opposite of the QQQ) in to lower prices today.

And the 2 min SQQQ is seeing migration as the 2 min chart is seeing a leading positive divegrence.

This has been our expectation all of last week and now we are seeing the initial signs of that coming to fruition which is great, but it has all been based on the probabilities represented by the longer term charts, these aren't lucky guesses, they are objective data and probabilities.