***MARKET UPDATE

I'm thinking of grabbing some more assets like the XLF puts (FAZ long is a good choice for equities) as a hedge, it's starting to look more like this pullback will have some guts to it and will last longer than an end of day move, I'm guessing maybe the EOD today and in to Monday at this point.

So I'm thinking as the market is bouncing a little here, I may grab some more hedge protection (market shorts-but trade shorts like FAZ, GLD long, SQQQ, UVXY, etc).

Here's what I'm seeing.

 SPY 1 min showing today's negative divergence and a new slight positive sending it up a bit right now.

 The overall 5 min is still in a very good long position, but the 5 min chart today does suggest a pullback bigger than just an 1 or 2 hour move.

Where it really matters at the 15 min SPY, it's still strong as ever so again, a pullback at this point would be a gift, but I want to take calls and get that momentum and add them back after a pullback is confirmed to be ending. This should certainly lock in shorts.

HYG's intraday charts 1, 2, 3, 5 min etc all suggest a pullback like the SPY, but again the important 15 min is leading positive,  that is supportive of the market when it makes its move.

However assets that suggest a pullback (like the SPY 5 min chart) are confirmed with assets like TLT 5 min positive, so TLT long or a call for a pullback move would be an obvious trade.

 At 10 min there's nothing in TLT, this confirms the SPY (and other averages) strength on the 15 min along with HYG, the bigger move.

VXX is also positive at 5 min, suggesting it and UVXY run higher and the market lower, but again...

at 10 mins it's leading negative.

SO I may add some pullback hedge positions as I think they'll last in to Monday, then I want to add the calls back for the Bear Trap Squeeze.

I told you they wouldn't make this easy.