Quick Market Update

There are still several Bellwether stocks that look like they have some more on the upside to go. AAPL is one, but I'd going to look for a better, stronger 3C signal entry rather than hold it as you know it was closed.

Several averages look like they have more to go as well, the QQQ has a 5 min positive, but the 1-3 min don't looks as good, early pullback tomorrow in the QQQ and AAPL? That's my interpretation.

The IWM (which looks the worst of the 4 major averages on the 3C charts) looks like the QQQ, except with a negative 5 min, that is to say 1-3 min intraday charts are salvageable, but don't look greaT AND THERE'S NO 5 MIN CHART WITH SOME STABILITY LIKE THE Q'S.

The DIA 1-3 min is nothing special, it's not anything I would trade from, however there is a 5 & 10 min positive.

Perhaps the best example is the SPY itself...

 The SPY 1 min chart with the "W" in yellow, note the accumulation at today's lows, this is what I expected yesterday when I posted this as far as my expectations for today, "Working Thesis" 

The 1 min chart is in leading positive position, but intraday is going negative. This suggests an early pullback perhaps or maybe the EOD was it and a little more upside "gas in the tank".

The 15 min chart's trend is much clearer, we had no divergences out this far earlier today, now we have a leading positive 15 min SPY so it does look like volatility/chop, but still some more gas in the tank.

This is why I'm trying to trade around what I see as potential chop or drawdown for already short term option (call) positions.

I'll post more on the market in a bit, but it is really looking bad overall.