Quick Market Update

This won't be a comprehensive update with this little time, but so far the underlying trade is holding up, the TICK is making a transition, it has some more to go, but at least it has improved and Credit is the real standout as it is holding up well - Credit would normally be way in front of the market on a sell-off.

SPY holding up in to the afternoon move.

 The NYSE TICK actually reversing the move, it needs to get in to the +1000 area, but just breaking with the trend is a good indication.

HYG credit which I wanted to add to the call position earlier, but it was just too far away from where I would have considered an entry, it came down a bit and now it's going positive or re-establishing the positive trend since that move down which allowed me an entry.

Most of all, the VERY THIN High Yield Credit, and Credit Leads Equities, is holding up perfectly all day, not only holding support, but diverging positively.

Credit, especially non-liquid types like DHY above, would be the most skittish and leading a downside charge if there weren't something going on.