Market Update

Still nothing unusual or worrisome to report. As I always remind you, reversals (scaling depends on the timeframe and size of a move) are a process, not an event so we rarely see "V" shaped reversals and more often sort of "U" shaped which may put us right around the 2 pm or so mark that I mentioned earlier as being a good place to see a downside move.

The TICK has mellowed. As for the averages and intraday signals, much like we saw just before the pop on the 16th, the longer term charts like 5 and 10 mins are giving bigger negative divergences on an intraday basis than some of the shorter 1 or 2 min charts which is rare, but would suggest any distribution in to today's bounce off the lows is being sold in pretty decent size.

I'm going to update some individual stocks that we like or we are in, unless something more pressing develops.