Other Indications

I just took a quick look at our Leading Indicators along with the CONTEXT model and I can see why there's such a positive differential, now +10 points in favor of the model.

 CONTEXT's ES model is about 10 points higher than ES.

 Looking at TLT, you wouldn't see this if you didn't look close, but note how treasuries are seeing lower lows at areas where the SPX is not making higher highs. TLT is one known lever used to manipulate the market.

 TLT'w10 min chart is also in a negative divergence that looks like it wants to pullback enough to fill that gap in yellow, that would give us the market move to the upside we're looking for.

 I don't want to take anything away from the real and strongest underlying trend, TLT has seen a major flight to safety at new leading 3C positive highs out at 2 hr charts.

 VXX (VIX futures) are another known lever to manipulate the market, they also are making lower lows where the market isn't making higher highs.

 HYG is the 3rd known lever to move the market, HYG's 3C chart shows a 15 min positive divergence, you see what happened to price after the negative, the positive would be supportive of a risk on environment.

 HY Credit is also supportive intraday as well as longer term.

 The market is showing some strength to be holding up against a dollar moving higher intraday

However the market is in a very supported position considering where it is vs. how much the $USD has pulled back short term