Market Update

I'm very seriously considering some leveraged long ETF, maybe SPXU, I already have financials though and the SPX has a lot of Financial components. I think the larger point is, there are a lot of things from the base to bear flags just under support of that base, 10-30 year treasury futures going negative right now, VIX futures not looking the best right now either, once again they are lagging even the basic correlation with the SPX meaning it doesn't seem like there's a strong bid or even the expected bid for protection, of course you know how I feel about the flight to safety trade (TLT) as I have an active put there. Sentiment has made a new high today (our leading indicator, not retail), the $AUD continues to build positive. The only slight negative is HY credit which made a slight low that is in to the 25/26th whereas it had remained above the lows of those two days, but the overall position is still positively dislocated from the SPX.

 DIA 5 min with an increased ROC as there's a small bear flag (possible head fake move) just below major support.

The IWM has a large ascending triangle, I'd think even for a head fake move (which is what I was explaining last night in that a head fake move above alone could be the extent of the bounce needed before it failed)  the likelihood of an upside breakout would likely make a leveraged long worthwhile, however as explained last night and all week, these are not strong signals and these are in my view, very speculative trades. I wouldn't blame anyone if they sat this out.

 IWM 5 min positive divergence, again it's just not as strong as it should be, but I suspect it's enough.

 Don't forget the larger picture and what I suspect via the 15 min IWM chart.

 These 3 min charts have been the interesting ones, I can try to explain the mechanics of this later, maybe in a video.

SPY 3 min with that small bear flag below support and an increased ROC on the 3C positive divergence.

I suppose the only thing holding me back from a specific position is finding one that looks strong enough to warrant a position, I'd be in the wrong to take a position that I didn't feel had high probabilities, especially in this environment when our main focus will be setting shorts, which I'm watching, most look like they still need a small upside move of maybe a few percent.