Opening Indications

You can see by looking at the intraday NYSE TICK that there were a slew of sell orders lined up to be executed at the open...

 This morning's TICK registered an very extreme -1819 on the open, sell orders placed with brokers executed on the cash open. One person I respect said in some Friday commentary, "Stocks looking increasingly more bearish".

I respect this person, I like this person, but the news that stocks were looking increasingly bearish was news last year, not last week.

Here's our custom TICK indicator (cumulative). You can see the change in character late Friday afternoon and continuing in to today so far.

 Here's the SPY with the head fake that failed and this morning's volume at the yellow arrow right at the open.

Here's a closer look at the SPY.

And a closer look at ES / SPX E-Mini Futures with an intraday positive noted in the A.M. Update increasing in size. It's this kind of lateral price action I was talking about Friday that looked probable to me for an early week corrective move.

Here's the same 1 min chart in Russell 2000 futures, although zoomed out , also adding to the earlier positive divergence.

 And 30 year Treasury futures still not looking good on the 3C chart as well as...

TLT 1 min on the open this morning failing to confirm the gap up. I really suspect something is very wrong in TLT / Treasuries and if that's the case, it "should" send yields higher and help support a small corrective bounce in the market, but beside that, I'm wondering if the entire Treasury complex is turning because of fears of what will happen with such low liquidity once a stampede starts. This is one asset I want to look at apart from the market on a much closer basis and spend a bit more time looking in to it.