Market Update Charts

I don't think this movement should be too surprising this early on intraday charts considering the EUR/USD SINCE the 9:30 NY open.

 Even though for the week, which is young, the EUR/USD are showing better relative performance, since the open they have been pulling back which puts intraday pressure on the market, that mixed with the other under-current of the overall better relative performance has the market at a stalemate.

 The open at the green arrow, SPX in green and Euro in orange, so since the open the EUR/USD has pulled back, but is still leading the SPX for the week, a strange bit of arbitrage that has the SPX flat.

 DIA 1 min leading positive divergence took a break as the Euro lost ground, but still in a leading positive position.


 Essentially the same deal for the SPY.

The Flight to Safety trade, Treasuries is seeing some interest, I imagine as a result of the ER/USD movement, but it is interesting to note where yields are.

Yields , a leading indicator are in an overall positive divergence, so another interesting undercurrent, but this fits more in line with my reason for wanting a Call position, it's not based on opening trade or early indications or anything like that, it's based on the positive divergences from Friday and the gap above, so I'm fine with it, I just thought all of these different undertones were interesting.

Watch for improvement in the EUR/USD and I'll bet you'll see improvement in the market overall.