Quick Market Update

I can show you a bunch of 3C charts, almost all of them are confirming the downside move in the intraday timeframes of 1-3 mins, I can go on about HYG's negative divegrence from earlier today or the double bottom base with a probable head fake at last week's lows,  but the simplest way to look at the market requires 2 charts...

 Our Custom SPX/RUT Ratio Indicator showed a lower low below last week's lows which the market hadn't made, therefore the market was not confirmed, it was likely to move lower, I suspect if it can still put together a base, which it probably can, by the time it has a reversal process in place, we'll likely be in the area of last week's lows.

Also, intraday looking at the same indicator, it seems to suggest the downside momentum is going to fade a bit.

Note today specifically that the indicator (intraday) is not confirming the intraday lows... I suspect we have some more downside in the market generally, but should probably see the rate of decline start to soften.