EOD Update for Next Week

I think I've seen enough to make an earlier call than usual for a Friday (Thursday -shortened trading week)... Keep in mind today was a monthly options expiration so a lot or most of the price action is many assets had to do with the op-ex max pain pin, right around the 2 pm mark as usual we sart seeing some changes which help us plan for the following week, that's what the VXX call and SRTY long are all about.

My initial impression is we get a pullback early next week, I want to say Monday, but there may be a little more work to do before we are there, that depends on how much things move in the last 45 mins of today.

These charts were captured about 15 mins ago, but they are still relevant. Remember, on op-ex days price will do whatever it wants the last 2 hours after the pin is lifted, it's the 3C signals that will generally, really almost always, pick up where they left off on the next trading day - even over a 3-day weekend.

 The longer intraday charts like this SPY 3 min have been flashing pullback signals, short duration pullback, but pullback. Today, I suspect because of the op-ex (as this is normal behavior), we have had a lot of intraday charts in line with price, that is until 2 p.m. which is why I pay so much attention to what happens after the 2 pm-ish area.

 SPY 5 min also flashing a relative negative divegrence, suggesting a quick pullback or what we're calling the short term trend.

 Even out to 10 mins we have a relative negative, not a big deal, but it does suggest a pullback that is tradable.

You can see coming in t the 2 pm hour today the intraday 1 min SPY starts going leading negative, this is what I was waiting to see and part of the reason I entered the SRTY long position.

 SPY 2 min is showing migration from the 1 min divergence and pretty quickly so that's what I want to see with VXX calls and SRTY long.

QQQ 10 min has a small relative negative short term trend signal, the mid term trend's signal is still intact and fairly impressive.

 QQQ 5 min with the same relative negative, now it is really about the intraday charts.

 QQQ 2 min going negative intraday

And migration to the 3 min chart already.

 IWM 5 min still has an impressive mid term positive divergence, but there's a relative negative (short term trend pullback signal).

This is why I chose SRTY, the intraday IWM 1 min just collapsed to a leading negative divegrence and right in to the 2 pm hour.

 We have migration on the 2 min chart as well

And the 3 min chart already looks ready to move.

The intraday Russell 2000 Futures/TF 1 min also collapsed to a leading negative divegrence so there's decent confirmation there.

And as I pointed out earlier, the 5 min charts are negative.

This is the 1 min ES chart turning negative.

Interestingly the USD/JPY's signal has gone deeply leading negative and now we have some confirmation in single currency futures.

1 min $USDX wasn't negative earlier, but it sure is losing ground in 3C now, this all fits together well for a pullback early next week.

The trend is not big enough for me to want to trade it beyond a speculative position, but I think it is tradable.