Answering Some General Questions

On days like today when I need to be paying attention as the market moves fast and I need to be watching probably 40 different assets, it's hard to get to emails as my first responsibility is to update all members, then emails. I'm going to try to deal with a few emails in this post.

As for Credit, Junk Credit is acting worse now than it was before, but by and large I believe the downward pressure on the market right now (other than the negative divergences) is the $USD shooting up.

US Dollar shot up, the Euro shot down and the market followed. As for the $AUD, overall it has a slight negative tone, intraday though it's tracking the market nearly perfectly. Yields just continue to move laterally at their lows, they haven't grown worse which is one reason I'm still trying to stay patient although I certainly have the "Itchy finger". Commodities are tracking with the market due to the $USD.

Again as to credit, Junk is underperforming the market, HY hasn't changed too much since the last update and HY Corp. is just ever so slightly underperforming the SPX. I'm kind of hoping the market pops back up to the intraday highs and the 3C charts as well as leading indicators just keep going south.

That may be a possibility as the TICK is starting to break the downtrend channel to the upside, but at least it's finally showing movement with the last move down hitting -1200

I'll cover some more individual stocks you have asked about.

As for a quick market update, the DIA 1 min is positive, the 5 min still hasn't gone negative which kind of fits with the scenario I spoke of just above, the SPY is still ugly, not too much change there.

The QQQ is starting to show a little more negative activity than before.

The biggest change on the day is the IWM, for that reason if you don't already have some coverage in the IWM short, like SRTY (3x short the R2K/IWM), that would be one I'd certainly be interested in and I believe that's one of the add to positions that I'll probably wait out just a bit longer and see what happens in the next hour.