Quick Market Update

The SPX and Dow have this more traditional look and it looks right, there's a lot more to look at as a.m. trade burns off, but here's a basic example using the SPY.

 Yesterday we had a late day "in line" reading that was an improvement from earlier in the day, it's very early in the day of course, but there's been some damage done there.

The progression through charts looks right, the process of the reversal to the upside to the left looks proportionate to the move and to the process on the top side (which isn't well drawn) as the bottom reversals tend to be a bit tighter than the top reversals, but the other thing that stands out is the 3C chart looking worse and worse and now down to the area where the upside reversal started.

The 3 min chart's progression looks just about perfect considering where price is and the shape, the series of charts above looks more like a textbook 3C reversal than any I've seen in a while.