Market Update

It would seem the legacy arbitrage algos are turned off this morning, USO showed signs of it and so do all of the averages.

Around 11 am The EUR/USD moved lower breaking the range  mentioned earlier.

 DIA, the red trendline shows where the Euro (red ) broke below the range, the green line shows how the averages are stronger then the typical implied correlation of 1.0, the DIA is the only one to have broken the earlier range. I'll have to figure out the point correlation to see where it is as opposed to where it usually would be, it may matter as the session progresses.

 The IWM has taken nearly a 2% hit, but still significantly above the range.

 The Q's are also above the range.

As is the SPY.

As I just went to grab this chart after writing the above, I see that the SPY is now breaking that range, the point of the chart was the 5 min has caught up by now and seemed to indicate that the averages were going to move lower, but  see that has already happened.