Market Reminder

Choppy trade is tough on every thing, traders, indicators, sentiment, ect. As many of you have heard me say in the past, when things look muddy and noisy and it's difficult to pick out a trend, look toward the longer charts that may have less detail, but they have less noise as well.

This is a reminder of the path of highest probabilities regarding near term trade, it's hard to look too far beyond near term trade (usually meaning about 5 days or so) in a market like this.

 I do think this large flag-like pattern will contain most near term trade, I'd also expect a few extreme breaks above and below both the support and resistance levels of this formation. The white trendline today would represent a higher probability head fake move than anything else as resistance is clear in the area, a break above it and then a failure of that move would be apt to catch the most people off guard, however we can't forget it's an op-ex week as well.

 DIA 5 min shows the near term path of highest probabilities.

 The IWM 5 min looks eerily similar.

 As do the Q's 5 min chart.

This is the SPY 3 min, the 5 min is also negative as well as the 15 min.