Quick Market Update

The Euro looking very toppy here and it has broken support

 1 min SPY intraday, is now starting to lead negative on what appears to be a failed test of yesterday's close.

 The 2 min chart shows the gap up this morning was distributed/sold right on the open, this chart is starting to lead as well.

The 5 min chart shows the gap up this morning was distributed/sold right on the open, the intraday positive divergence didn't make it to the 5 min chart, meaning it wasn't very strong.

Today is the last day of the month, although window dressing for the month (not as typical as for the quarter, but for January it is probably one of the more important months) has the T+3 settlement rule, which means last week was the end of moves for any window dressing, Thursday to be exact. Since then the market has lost more then 1.82% on an intraday basis and about .70% on a closing basis through the present.