Market Update

Yesterday as I was seeing this craziness unfold in the short term charts I thought most of you would think I was losing my mind, now today you can see the rough outlines of the ideas/theory I put forth last night based on what I saw, here it is again.

Lets look at the charts....

3 min chart- This is the complete shift that started yesterday with a positive divergence in the SPY, I couldn't see all of it yesterday, but suspected it was coming. This can still lead to higher prices, the volatility is insane as many of you have already commented this morning.

 The 5 min chart positive as well, and we are seeing the results of that in price.

 Even the leading negative 10 min shows some positive momentum, this leads me to believe there's going to be a move higher or we are in it now.


 The longer term though is still very much negative, this is why I put out the theory I did yesterday.

 Very short term 1 min intraday, the SPY looks like it will pullback a bit here or consolidate.

 The ES 5 min positive is losing some of the momentum as the SPY move has started on the upside.

The 4 hour ES chart, still negative.

I'm sticking with yesterday's theory for now until/unless I see something that makes more sense. This is why I wanted to reduce short exposure yesterday as I thought this move would be today.