Head Fake Update

So far so good.

 DA has gone more positive at the break

 IWM is looking good

And the SPY remains positive.

I would think for a head fake, to make it worthwhile, they (Wall Street-SmartMoney, etc) would want to make it as convincing as they can, which would mean sending it lower, otherwise what's the point?

I would keep an eye on VXX for a reversal, that will probably be pretty good timing for a general market reversal, also watch the NYSE intraday TICK chart.