MArket Update

The SPY did break the $113.50, the development that is a little concerning is the intraday wedge forming in SPY, if this wedge breaks to the upside, it should retrace it's base to the $114.40 level. There's a slight positive divergence on the 1 minute, every other timeframe is solidly negative-this is what I look for to pinpoint a reversal so lets see how this develops.  A break below $113 should make this a moot concern.