This is what I was hoping for, we don't want to chase anything higher, so a pullback will be helpful and seeing the recent inverse relationship between PM's and the market, it may be helpful in SLV/GDX new positions as well.
Mostly the 1 min charts are showing a pullback, it barely goes any further than that, this has a 50/50 chance of being a lateral consolidation without the 2 min charts negative as well, but I suspect a pullback, it's in Wall St.'s best interest right now.
VIX also has been very "Blasé", longer term in 5 min range it looks ready or getting ready for a market move higher, short term it seems content just to sit where it is, it's the 5 min VIX futures chart though that is really damning for the VIX and good for a market bounce to the upside, it is quite clear.
IWM 1 min looks extreme for an intraday pullback, but it's only the 1 min chart.
The 5 min chart looks good as an entire base, but especially good in recent action as it should look.
QQQ 1 min also hints strongly at an intraday pullback.
As does the SPY.
Other than shooting down the gap up on the open with a negative divergence, the intraday VXX is "Blah".
The 3 min as well.
UVXY has a bit more enthusiasm.
However, as I have been saying for a couple of days, it's the actual VIX futures...
5 min deep leading negative divergence suggests VXX pulls way back, you can play XIV long or VXX/UVXY short/puts.
This would confirm a strong market bounce.
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