Update

Today's trade has created some continuing bearish divergence in the stock indexes. Shorter term RSI (3 or 5 period) show nice divergences and the 60 min MACD is at an even lower peak at this high. Price pushed right up to the 1233 level which is at the top of the recent 2 month range and just under the upper daily bollinger band. This all in the context of a late "follow through" day in the markets. So we have some mixed messages here. Despite the follow through day, I think stocks are still likely to pullback before charging through the top of this trading range.

AAPL reported earnings after hours and missed estimates for the first time since the 2009 bull market began. Given the bearish divergences on AAPL developing over the past months, this may be a trend changer in AAPL shares.

GLD gapped down today, but then traded higher all day after that. If my recent outlook on it is generally correct, then given today's action, it may have another brief push to the top of its recent range before the consolidation is complete.