HYG Save, Still Mixed Up Signals

I'll just use QQQ as an example, although each average is a bit different, we know the Q's put in a move that could be sold in to.

As mentioned in the last update, HYG looked to be active and activated on the market's intraday , afternoon turn to the downside, likely effecting a rescue as it wasn't that harsh of a move to slow and reverse on intraday charts.

I suspect there may be some buying in to the close on ECB anticipation as well.

 QQQ 1 min negative from yesterday and today and the most recent positive, likely with some HYG help. It's clear it's not a strong positive intraday, it doesn't even have any kind of intraday base.

 The damage to the 2 min chart above and 3 min chart below remains.

3 min

And while there's some 5 min chart damage to the far right on apparent selling in to higher prices, the gas in the tank for the bounce divegrence (white) is still more than sufficient to get a bounce off, this is really why I haven't made any kind of near term trend expectation changes.

Again, the theme is pretty close, but each average is a bit different, likely based on their relative performance,  you can't sell in to something that's red on the day.

The 5 min Index future charts are by and large, worse on the day, even in to this latest afternoon stick save.

 ES 5 min worse on the day specifically.

And now the 7 min ES chart has joined the 7 min NQ chart and is showing a negative on the day as well. This is clearly not as bad as NQ and TF is still in line, but the trend pointed out yesterday of small, constant negative signals continues today.