Market Update

AS the Leading indicator update showed as well as the earlier comments about the range being so tight the Bollinger Bands are bound to provide a squeeze, I can't really find any positive divergences in the averages at all and I'm talking about the shortest timeframes, even the most insignificant divergences as far as today goes.

As mentioned earlier, the IWM held up the best of al the averages, HY Corporate Credit must have more upside, but there were immediate divergences/distribution in to the move in HYG and that started right off the open, it didn't wait until the afternoon. What does that mean, so far it means I'd expect HYG to move up more, but it doesn't seem to have a strong, if any correlation with the market moving up.

 Bollinger Band Squeeze at the tightest of the year, not much of a directional move coming out though.

 Plus we had this ascending bullish triangle.

I'm not going to do any weekly option trades on this, there just wasn't enough of a move up to take risk off the table and I don't see anything to justify taking a weekly call position

I was going to post the updated charts, but they are moving so fast I'll wait until the close.