Other Early Indications

I don't usually like looking at Leading Indicators this early, but since there isn't much intraday (TODAY), yet there still is the leading positive divergence in the intraday trend, I figured why not take a look.

Credit is split pretty close to down the middle with a slight positive bias, High Yield Corp. is not inspiring much upside confidence, Junk Credit looks a bit better and HY Credit looks decent. Yields are still elevated to the positive in similar fashion to the averages' 1 min trend, the $AUD isn't saying much short term, longer term like the intermediate chart of the averages' it is negative. Here are the two standouts... The Euro (stronger) and weaker USD and commodities following the pair's strength and weakness, all in all, I'd say a minor check in the short term positive column.

 Euro vs the SPX is definitely stronger and the market typically follows the Euro as this typically means a weaker $USD making stocks look cheap on an arbitrage basis.

While equities haven't done much, commodities are much more in line with the EUR/USD correlation.

I'd expect to see some market strength (even if for a very brief time) materialize soon.

Still like the SPY Calls from Monday, still an open position.