SPY Update

This is the reason for taking some of the SPY Puts off the table and the reason why some are still on.

 The first hint or at least the first I saw was the NYSE TICK as it was starting to change trends.

 Then a 1 min small intraday positive divergence in the SPY, this is within a much larger leading negative divergence.

 I still like the overall idea of leaving some on the table, although I wanted to capture that early momentum, because of charts like this 5 min in a leading negative position.

 Of course the 15 min leading negative mentioned earlier as well.

 Nearby in intraday action, the 30 min is leading negative, step back and take a longer view...

 As we were talking about last night with the EUR/JPY divergences and the Feb 1 date playing such a key role in so many indications, the 30 min chart is leading deeply negative, the green arrow is Feb 1.