Quick Market Update

The SPY, IWM, DIA, NASDQ 100 futures, SPX Futures and Russell 2000 futures all have clear intraday positive divergences.

These divergences make perfect sense with what I've pointed out in HYG.

Furthermore they also fit with TLT and VXX, but not in the way most people would view them (price action only).

When I can get up a larger market update (which I alluded to in the URRE update), you'll see what I mean.

I believe the key to short term action (and that encompasses what I posted last night, distribution in to any price strength even if it was just a +.10% close, but off significant a.m. lows) is distribution signals in to that "price strength" even if it is only intraday, yet still impressive.

I think HYG was a give away and the way TLT and VXX are set up also seem to be a give away that the market appears to be preparing or perhaps even front-running "bad news" from this weel's F_O_M_C meeting, ironically with the new GDP revisions that will send almost every GDP higher, giving the F_E_D an easy, facer saving way out of QE.

I'll try to get this bigger picture market update up ASAP, but at the same time it's important to find assets that are beneficial to trade in to what may be a VERY useful move that sets up a high probability, low risk trade.