Holy Moley (Moly? Mole-E?)...
IT's not just 3C, CONTEXT continues to deteriorate which means Leading Indicators which take too long to load at this point, are surely worse off.
Since the 9:30 open today, the Red ES Future has went in the 180 degree opposite direction of the CONTEXT ES Model in Green, which is based on risk assets, you see when the market is feeling bullish, all risk assets for the most part move together, take High Yield Credit or some of those High Yield Bonds portfolios or currencies, yields, anything other than stock, all tend to move together because each trader in that particular asset class want to make money, when they refuse to follow stocks which are the dumbest of the smart money (credit and bond traders being the smartest), there's something wrong.
CONTEXT is now at a -13 differential, this is borderline record since I've been tracking the differential.
1 min 3C on ES saw accumulation at the bottom of the VWAP channel where no one in their right mind (institutional players) would sell, but market makers who fill orders would to move ES to VWAP or better, since that time, there have been no positives at all, just distribution/selling in to price strength,
If I chose a weekly option (buying puts) I'd go with the SPY, although I'm sitting this one out.
The same is true of the 1 min NASDAQ futures as the 1 min ES futures.
There should be lots of good data to download after the close.
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