Market Update

Here's a market update, I need to run out for about 45 minutes to pick my mother up from a surgery center then I'll be back.

 Basically everything from the last update has come to pass, the triangle continued to develop, note where traders put stops and limit orders-the usual places and volume increased as those were broken.

 As I said, the volatility dropping would cause the Bollingers to squeeze and we'd get a highly directional move-DOWN.

The triangle is too obvious and the initial break (intraday) I doubt will hold, we may see a "Crazy Ivan" with a reversal break to the upside of the triangle's apex.

There's already 3C indications of positive divergences, like here in the SPY

 Here in the DIA

And a strong one in the Q's. 

Another possibility would be a kiss goodbye to the apex, but again, that is what trader's would expect, so I doubt that will be the final move, I lean more toward the upside shakeout. After that we'll see what happens. It's likely the market will close semi-flat going into AA's earnings tonight.

Be back in about 45 minutes.