Dow 17K 4th of July?

Many of you have written in today suggesting that the Dow $17k is being saved for the 4th of July 3-day wekend where retail can fester and gloat in the new DJ-30 high, setting them up for a nasty surprise on the open of next week, I suppose this is possible, it's something I would have suggested in the past, however I don't see why a move above 17k yesterday and further moves today and tomorrow wouldn't be just as if not more effective, it almost seems as if there may be limited firepower to accomplish this goal and that (if what many of you think is correct) it has to be preserved for the right moment like tomorrow's half day in which there will be a skeleton crew on Wall St. with EXTREMELY thin volume making the market a lot easier to move, that still tells you something about what firepower is left in the market if that's what needs to be resorted to.

Don't forget we have non-farm payrolls and Initial claims tomorrow, NFP being way more important, it would seem to me any good news would be bad news as that just puts the F_E_D further in to their mandated or stated goals which they've already surpassed on both mandates. I would think that would be the defining tone of the market tomorrow, but the market works in strange ways that are set up in advance.

If I were very sporting I may take out some weekly DIA calls (next Friday's expiration) for such an event, I don't see any positive divegrence in the Q's and we have seen the averages with a 1+% gain in the Russell while the Dow prints red on the same day so if I had to choose, I'd go with the Dow calls, but I'm not that sporting that I'd be willing to see if there's a gain there still available to collect come Monday morning when the market reopens at full staff, higher volume.

For now, the TICK has remained in an extremely narrow range today and we have divegrences intraday in 3 of 4 averages.

 TICK in the +/- 500 range this afternoon, as tight as tight can be.

The DIA has a leading positive divegrence, not the typical, but it should do the trick in a half day market with volume VERY low, this is a  2 min chart. I don't usually trade any divegrence unless it's at least out to a 5 min chart so this small period on a 2 min chart doesn't cause me to want to take that risk.

The broader 15 min trend during the last few days, very ugly.

 IWM intraday 2 min positive, again I would not take the risk of chasing this.

And the 15 min trend of the last 2 days.

The SPY is very hard to even call a positive divegrence, this is as close as it gets and...

The 10 min trend overall and last 2 days, I would not trade this long even with the signals we have.

As mentioned, only 3 of 4 average have anything approaching a positive divegrence and not impressive enough that I'd hold over the weekend.

QQQ has no positive and is seeing an increased amount of decay today after being one of the best underlying performers.

PErsonally, I'd just leave the calls alone unless something larger develops.

In Index futures, there are no positive divergences at all, there's a small negative in the $USD. There's no positive on 1 min charts and 5 min charts have nothing but leading negative divergences.

I'll try to get Index future charts up, I want to look at a few other things.

Personally I wouldn't mind if any downside was put off over the weekend, it would give me more time to gather more assets that are ready to enter positions in rather than scrambling all day and in to the night.

That said, these are VERY weak, be careful if you try to trade them.