Thus far it seems the concept of 3C picking up where it left off on the previous trading day (Friday) is holding as we were negative through intraday timeframes (1-2 min.) on all of the averages at the close.
As for Precious metals and the one I was really worried about, NUGT from Friday
, Closing the Rest of NUGT Long Position they are down with GLD only down -.10%, SLV down about 1% and NUGT - 2.56% and GDX -.89%.
Charts...
DIA with a negative intraday as of Friday, not responding great off the open thus far.
2 min DIA
IWM 1 min negative.
IWM 2 min relative negative
QQQ 1 min negative Friday intraday
2 min QQQ negative
SPY with Friday's pre-1:15 divergence and closing...
And this is the most immediate question I want to answer, how does this bear flag, which looks to be intentionally started as there was enough accumulation to halt the previous decline and start the flag's consolidation/correction which was distorted by a sell-off premarket on the F_E_D, "The market is wrong" comments.
This flag will likely be the most important near term set up price pattern as it does look very intentional.
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