Market Update

Well if today wasn't predictable, I don't know what was, from the op-ex pin holding the market still until most of the contracts are closed by 2-3 p.m. to the Friday op-ex afternoon break from the pin as most contracts are closed, that alone was incredibly predictable.

The first triangle which was larger failing yesterday and a second smaller triangle forming today was predictable when you have this juicy resistance line retail tech traders are watching.

 Daily resistance line is a perfect place for a head fake move as a break above the resistance is where retail will buy and where smart money can dump.

The triangle, but it needed the Yen's help to do anything...

Yen (green) vs SPX intraday

And to knock the Yen down at exactly the same time HYG moves up, TLT moves down and VXX has been moving down, the USD/JPY is used...

But this is not going to last long, it's amazing what a tiny move was needed, there's a negative in place here that will be sending the pair down, that's due to Yen accumulation.

Yen is under accumulation today, but that small move down in yellow is all that was needed from the Yen.

As for HYG, VXX and TLT

 HYG 1 min is a very weak divergence, but it is an intraday timeframe and moves assets intraday, that is the HYG divergence and HYG up is market supportive...

The slightly bigger picture in HYG (not even that much further-is very negative and it is getting worse-so HYG will be heading down.

 TLT as I mentioned was and is under accumulation, but recall I said it was like a mini inverse H&S and a pullback in this area would be perfectly normal, well that pullback is market supportive, by itself it would have done nothing, but with the Yen, HYG, and VXX ALL moving at the same time, that's what the market needed to give it a boost-this is not demand, it's arbitrage manipulation.

VXX's move down is also supportive, although it seems to be finding some support.

The Yen looks like it too will find some support and we'll have to see how heavily they sell HYG.

This is where the real information is, on this move that is not demand driven, but total manipulation and about every asset that they could possibly use as a lever was used.

I'll update the result...