Resurgence in Risk Appetite

Like clockwork, the US open as the European open, changes everything and the EUR/USD which was breaking to a new lower low found some support around $1.30 and all is back on track virtually were we left it yesterday.

 A small intraday bull flag forms in the SPY...

 The 1 min SPY chart

 The 3 min ....

And the 5 min... Pretty much were we left off yesterday, it's amazing how ETF divergences from the day before almost never skip a beat no matter what happened overnight-we saw it in oil yesterday as the run up was brought back down to the exact level USO had been at the day before as it underwent additional accumulation, which was all predicted the day before.