Market Update

Surprise, surprise, I just got the call to pick her up so it's likely I'll be back before the close.

This is just an example of the short term and the "trend" of this particular leg. I'm going to look at XLF quickly before I go an update that too.

 3 min SPY relative positive and the distribution of yesterday's head fake move.

This what I mean when I say I want to position my "trading positions" like SPXU or SRTY with the trend of 3C, this is a stronger 5 min chart, the difference may only be 2 minutes, but it's actually a big difference as 5 min is about where we first start seeing bigger institutional moves rahter than intraday moves, this is leading negative to a new low below the SPX lows of Oct. 9th so it's pretty serious, that doesn't mean there can't be and won't be shakeout efforts, that's what we are seeing set up on the intraday charts. The Positive to the left is the trend I want to follow on the upside on Oct. 9th and the leading negative is the trend I want to follow now.

Options positions are different as they have a whole different set of influences that create price, with equities.ETFs, price is price, not so with options so they have to be treated differently, at least the way I've found to use them successfully.

The 15 min chart is more trend, lacks detail, but again it showed the accumulation in to the Oct. 9 low and the distribution especially around the 18th where we suspected something big was going on.

All of the other averages are in line with this theme, some look a bit different than others, but the theme is the same, I'd expect short term trade to be noise and I don't want that knocking me out of positions set up for longer trends.