Market Update

I just went through Leading Indicators and the kind of large divergence we have been looking for and that has been taking shape is becoming extremely plain to see (negative).

As to the intraday signals today, they are still horrible (A VIX clubbing intraday gave them a temporary repreive) and the rate of deterioration has picked up. Although this was expected, I'd have to say that something changed today as far as the ROC in the indicators, I assume it's the F_E_D's willingness to ignore economic facts and rely on models to get the rate hikes done.

Here are some example charts of the averages, just a few...

 SPY 1 min

 SPY 2 min trend., but the focus should be on today to the right.

SPY 3 min

SPY 3 min trend since the accumulation of May 6th and 7th now at a new leading negative low.

SPY 5 min intraday saw movement

SPY 10 min chart, what I'd like to see is this chart hit a new leading negative low as it is the gas in the tank timeframe. That new leading negative low would render it dead.

IWM 2 min with relative performance issues today like the Dow Industrials/transports.

IWM 3 min since the accumulation range of early May

IWM 5 min

QQQ 2 min still looking as bad as earlier.

QQQ 5 min also looking bad on the day...

As well as on the trend with another new leading negative low put in.