The SPY only put in 1-2 min negative divergences at resistance, smart money was going to make sure that happened as I said yesterday to give retail what they were expecting, other than that, I don't see any signs here and I'm not sure I'd expect to. I didn't see smart money dropping any of their positions Friday or yesterday, just like me, I wouldn't think they'd want any more than they already have unless it was really tempting as there's likely to be a pretty quick turn around time once above the triangle.
I don't think we'll see a reversal process and therefore no real 3C signals on the SPY, but where you would see them and a more effective way of squeezing the shorts is for a "V" reversal, not to give them time to think about it, would be in the Arbitrage levers.
In HYG it's already starting to go positive and didn't lose much ground-that is positive for the SPY.
TLT saw a pretty nasty divergence really quick, not huge, but I doubt it needs to be, I think fast is the key to an effective short squeeze.
VXX is moving along with the market, but any downside movement is positive for the market,
The longer term TICK for today is probably a good indication to watch for that channel to be broken to the upside.
I'd think we'd get at least one more lower low, hopefully really pick up some volume, it's right there to be had.
The USD/JPY isn't giving away anything, but the $USD itself looks positive
And the JPY is in line, that's close enough to a positive leaning in the pair, so that's a market positive as well.
I suspect we are probably getting close.
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