Market Update

It looks like we are near the top end of the max-pain op-ex pin. In the chart's below you'll probably notice there was no positive divergence at today's intraday lows. 

Also the NASDAQ 100 / QQQ is one of the worst looking 3C chart, THIS MEANS I MAY HAVE TO TAKE ANOTHER LOOK AT MY TECL (3X TECH LONG) POSITION AS WELL AS XLK (TECH SECTOR) IN GENERAL.

VXX should see upside soon.


Intrtaday NASDAQ 100 (NQ) futures

 1 min NQ is leading negative, as mentioned before, there has been no accumulation at intraday lows, this shows a weaker overall chart for the market.

 NQ 5 min's trend is crystal clear when you strip away intraday noise.

IWM distribution on the gap open, NO accumulation at intraday lows and a leading negative on the last run to "Kiss the triangle goodbye", although we still have an op-ex pin that should keep price in this range until after 2 p.m. or so.

 QQQ 1 min intraday looks like the 1 min ?NQ chart, no accumulation (even on a 1 min chart) at the lows and a leading negative on the most recent leg up (intraday).

 QQQ 2 min showing migration of the negative divergence, this makes me want to rethink whether I want to hold TECL long right now or trade around it like cutting around a bruise in an apple.

 SPY 1 min going negative

 As you'd expect just for confirmation of the charts above, VXX is leading positive, it saw NO distribution at intraday highs, confirming all of the market charts above.

We can still have more distribution before any downturn and we are still range bounde because of the max-pain op-ex pin.

The NYSE TICK data has clearly gone negative.

My custom TICK vs SPX indicator is showing the same, fewer stocks are participating on the last intraday leg up.