Market Update

 I've been looking at this faux-ascending triangle and wondering what was going to happen, head fake move (about 80% chance) or not? Since there wasn't been an uptrend in to the formation, it's less likely to appeal as a head fake move, as I said, it's a faux pattern.

 The 5 min chart hasn't gotten any better, just worse, take that with the macro environment in the breadth post, the market doesn't really get the benefit of the doubt.

And here's the start of a break below the triangle and before it has reached the apex, which is actually a stronger break.

Volume picked up on the first break below support, so some stops got hit. The way ES s looking, I'm going to presume that we'll see some more downside action. My BAC puts from yesterday are at a gain of 3.92% for the day, not what I was looking for in the trade, lets see what happens in to the close. With Europe out of the mix today, it's been a listless market.

If you are in the BAC trade, feel free to contact me about it.