Quick Update

I'm getting in to Leading Indicators now, but I think my feelings yesterday about the market DESPERATELY (that was the title of the post) struggling for 0.25% while CONTEXT declined, told us what we need to know and justifies our positioning with the puts and other related positions.

Take a look at this, remember what I said in my last post about small adjustments to keep the market in a range pre-F_O_M_C...

 Just around the time the market "NEEDED" help to bounce, it got it as we see from the SPY arbitrage, I'm not sure which of the 3 assets were used, I'm just looking in to that now. Note how flat it is now, remember what I said about small adjustments.

 The 1 min SPY today

CONTEXT for ES, as I said yesterday, it's declining which means normal risk assets that normally move with the SPX are selling off, this is a negative signal for the market and at this point the model for ES is showing a negative -21 point differential between the model and where ES is trading now. The last major reversal (1-day with a -2.33% loss) saw a 40+ point negative differential and ES lost almost exactly the same amount as the model had implied, I think it might have been the model at 41 and ES lost 43, something close like that.