Early Market Update

Most of the market seems to be in a holding pattern right now, the Yen intraday looks a little weak right here, but the correlation with the SPY has been pretty good. The IWM intraday looks the best and will probably gain ground, across the board though the 10-15 min charts have gone deeply leading negative which is interesting when looking at these Yen charts.

*Last night's Yen positives where in futures, this is in FXY.

 FXY/Yen ETF 15 min leading positive

FXY 30 min leading positive.

Now remember that I said if HYG was sold off on any strength as it was, that was perhaps the "Cracking sound"...

Take a look at the damage done to the 15 min charts of the averages in that same timeframe/period.

DIA

IWM

QQQ

SPY

More to come...