They are pulling the levers, I can only assume they're going to try for an afternoon ramp, however have you noticed how "Wedged" the averages are today? The typical head fake for a bearish ascending wedge would be an upside breakout followed by a decline.
It's obvious from the SPY arb that this market has no strength to make these moves without pulling a lot of levers. Also CONTEXT is dropping as TLT improves, this is what I though t the positive model was all about last night.
In addition, the $USD looks like it will pop to the upside, it has been flat with a nice positive divergence
SPY Arbitrage-they are pulling all levers to try to move this market up. This is why the "W" base looked so weak, it was. If they need all the levers to move the market up, there's very little strength in that base.
ES/CONTEXT model is coming down as Treasuries have improved.
Watch that wedge in the SPY/Market
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