Opening Indications

With so little going on today, it's not an abundance of good or bad news, it's a lack of any real news, the market thus far has shown a proclivity toward the negative, even as the JPY lost more ground overnight on some statements from the likely new BOJ head that were taken as a continuation of the Yen destruction policy.

In taking a late day call on the SPY Friday and closing it the same day as planned, it was more from the looks of the longer charts than the shorter ones.

There's a clear theme along the lines of the 5 min charts, faster intraday charts are improving a bit even as I type this, certainly nothing I would be on (not on the long side).

 This is the general theme among the 5 min charts, a deteriorating tower-type top.

 Very short term on the DIA 2 min, this is what I was hoping to capitalize on late Friday, the chart above is why I didn't want to leave a call like that open over the weekend.

The same theme in the QQQ 5 min

 A little worse in the short term for the Q's, but that will largely depend on what AAPL does.

 So far intraday AAPL is in line which is a good start.

 But there's a fork in the road with the 5 min looking like the rest. It will fall to the 1 min and 5 min charts to decide which way this 10 min chart below goes, if it can't hold together, than neither will the Q's most likely.

 AAPL 10 min still leading positive.

 SPY 5 min with the same theme...

 Intraday there's still room for improvement or at least delay of the signals on the 5 min charts.

Thus far the TICK has been very negative with barely anything over +250 and some early readings below -1000.

I do like the intraday very short term look of divergences in ES and NQ, but again these are short term and very early in the day, I still feel today is going to be slow.