Quick Market Update

Trying to extract intraday data from this market is like trying to pull teeth with your fingers, it's unreal how flat it is, but I believe they are trying to activate the SPY arbitrage in to the close, whether they can or not is a different matter and has little to do with anything beyond the next 45 minutes.

 The SPY arb has been negative today because of VIX relative strength and TLT relative strength, HYG has been in line, but you can see it is slightly improving, I'll show you why, but keep in mind, these are very weak, I'll show you that too.

 The MSI has improved a bit on the day, although when you see the TICK data, it's pretty difficult to comprehend.

There's a small intraday negative on the VXX 3 min chart, but this is very small, it's not something I'd even attempt to day trade.

 And TLT also has a small negative divegrence, they need these two to go down and HYG up to activate the lever of SPY Arbitrage.


HYG is moving up as it would need to, but in to a negative divegrence, the very vertical look of the move looks to be purposeful/manipulative.

Meanwhile the TICK range has dropped to something I don't think I've ever seen, +/1 250, that's about as flat as intraday breadth can be, so where any stocks are moving is almost impossible to say as this is for all intents and purposes, DEAD IN THE WATER.

I'll post some more significant longer term indications that may be more indicative of next week.