Closing Update

I don't know how best to phrase this so it's not confusing, but I'm going to assume the market still hasn't put in that "early" Monday strength which quite honestly doesn't look very impressive, at the sam,e time, the reversal process seems to be clearly underway. Bouncing and jiggling along the way are nothing strange or unexpected, so long as the trend is moving in the right direction..


For a quick example...

 SPY 1 min has near term /intradayprobabilities of a bounce according to the 1 min chart.

However according to the stronger charts, even though it can bounce, the reversal process and the highest probability resolution of down is very much in effect. In other words, I'm assuming based on the charts, a bounce is still probable, a short one, probably not very impressive, then a return to a deeper rounding over of the reversal process and final resolution of the bounce off the 2/2 lows .

The Q's shows the same.

1 min, weak positive divegrence.

Much stronger leading negative 2 min , suggests a bounce, I might imagine toward Friday's intraday highs and then back down to a lower low, effectively completing the bounce cycle and reversal process.