Market Update

In to the market move out of the triangle, the QQQ and IWM are showing the first and heaviest intraday distribution in to the move, I'd say DIA is next.

The VXX/UVXY which helped this move with the downside movement are starting to accumulate and find their bottom so this is probably not a bad place to look at those as an equity long.

HYG, as expected is being sold in to it's intraday move up.

TLT is finding or has found support with accumulation continuing.

The Yen's futures are starting to lead positive so it looks as if it found its legs.

We have an hour and these assets that made this possible are all in the process or reversing to a market negative stance, so what happens in the next hour should be very interesting and perhaps a trade or two.

I'd definitely want some long equity exposure to VXX or UVXY at this point, for a short term trade.

HYG I don't think is worth it, there are some leveraged EFTs for TLT, bit on its own, not worth it.

It's really what the risk assets and averages do that set up the opportunities.

AAPL is worth watching as it tries to go green again, there may be a nice put set up there.