Today's Wrap

I was going to post a bunch of charts, but I think it's not necessary, the NFP will be what it is, although the late day positive action that just so happened to be at what would be a head fake level just in front of a huge economic release, is all seeming more than just coincidental.

There are several underlying factors that are offering the market some head room, Credit remains supportive as do Yields, the Euro looks to have a several day long positive divergence which would be supportive of the market. If you read the market updates today, you can pretty clearly see where I was going with the  analysis and what the underlying action looked like, so far it is all supportive of the market theory I put out Tuesday night-one good pop higher with a move in AAPL.

One chart I do find interesting and it's because it's the only one that can keep showing us the underlying action with the market closed is the ES chart, take a look at this current snap...

Other than the continued, very large positive divergence, what is also interesting is that ES is being kept in a range (accumulation is often seen in flat ranges as it provides stable prices). According to the ES model below, the underlying conditions are favorable for ES to move higher, yet it remains in a flat zone with a stronger and stronger positive divergence.

CONTEXT ES model.

And my AAPL position today, it doesn't matter what I know that may be contrary to entering the calls, it doesn't matter if the position fails miserably, I never pass up on a divergence that consistent and strong.

You may recall that a move in AAPL was the one last thing I've been looking for in this bounce before it ends.

I may add some more updates, depending on how the market develops. Tomorrow is looking to be an interesting day.