Closing Market Update

Interestingly, for a F_E_D knee jerk day, the market is not looking that good right now and I suspect the cycle's stage 3 rounding top is taking more precedence than the F_O_M_C minutes, unless there's something I don't understand in the minutes yet which is possible as I didn't get to read all of them yet.

For example, you already saw Index futures earlier in INDEX FUTURES LOOK HORRIBLE. Nothing has changed there since the release of the minutes.

As for the averages... There hasn't been any support for higher prices, indeed the opposite.

Since the 2 p.m. F_O_M_C Minutes release...

 IWM 1 min leading negative

IWM 5 min leading negative

QQQ 1 min leading negative

QQQ 2 min negative

SPY 1 min negative

SPY 2 min leading negative.

Something is not sitting right with the market and I haven't even added leading indicators, but the  Index futures should be telling on the longer end of recent price action (5-60 min charts).