Market Update

It's still a sloppy market with more questions every hour. As far as I can tell, there's been a massive stop hunting crusade, why? Under normal circumstances, if they are close enough already and it doesn't take much effort, stops will be hit, but in this case a lot of effort seems to have been put in. There are just too many questions to think this is a stop fishing expedition only.

In any case, the TICK and SPY/Euro relationship is a bit indicative of the price action right now.

 Euro in white is falling apart a bit faster than the SPY.

Today's TICK is very different from yesterday's, we are seeing -1200 readings on a simple early pullback, the top of the range is averaging +700 which is a normal reading that isn't impressive at all and declines are hitting more extreme readings like the -1400, this is nearly the polar opposite of yesterday.