SPY -Market Update

This update kind of explains why I think there may be a "Crazy Ivan" in play.

Here's the 1 min positive divergence mentioned earlier and we've seen some upside from it 

Interestingly, for the size of the drop, the 5 min chart did not confirm, it didn't move at all

Nor did the 10 min chart, perhaps this changes later, but this to me suggests that inventory is being held within that "consolidation zone" because prices are headed back there, and why head back there unless you have a good/profitable reason like another shakeout?

The longer term 15 min chart I believe is showing the true character of the market, not healthy, but that doesn't really matter when it comes to short term manipulations.

The same is true of the 30 min chart.

This "Crazy Ivan" idea is not a prediction, it's just a theory based on what I see right now and what we know of how the market operates.