Market Update

Now we have some movement. Interestingly the 1 min charts are largely in line, but they are the smallest unit of underlying trade and seem to have stayed in line as a steering current, almost like a market maker working the bid ask so they can distribute in to higher prices. The larger chunks are seen on the larger timeframes and that's where we're seeing some break down as the VIX Futures continues to accumulate.

 IWM 1 min in perfect line

IWM 2 min going negative

The 3 min chart is where larger chunks are found, this is why the long term charts are more important for underlying trade, here we see a much worse looking chart intraday.

QQQ 1 min was in line, now starting to go negative

QQQ 2 min is negative

QQQ 3 min, in larger size is more negative.

The SPY is virtually the same, 1 min

2 min

3 min.

I'd dare to say we're going to see some movement shortly.