Market Update

So far the resiliency of the market since yesterday afternoon quite frankly is surprising.

All of the Index futures are slightly negative, but mostly in line intraday, here's a look at some other indications...

 The SPY Arbitrage model shows the market getting some support, I'll check our own Leading Indicators next.

However, CONTEXT'S ES model has a 20+ point negative differential, this is not the consolidation/pullback I was expecting for today so I need to take a much closer look at Leading Indicators.

Volatility thus far is not really arguing much with the intraday direction of the market, there are some small differences, but nothing I'd make a call on.

 SPY intraday 3 min as well as 1 and 2 min are all negative, at 5 min it is in line, every market average shows the exact same as far as timeframes today.

 5 mon SPY momentum today, there's a slight fall off here as RSI and MACD are negative, but just slightly.

 DIA 3 min

IWM 3 min

QQQ 3 min-the reason I use 3 min is because it is the longest intraday timeframe negative, 5 min charts are still in line with price, which is why I thought any pullback or consolidation in the market would be temporary.

The TICK data should be watched, it's definitely not in line with the trend of higher prices.