Market Update

After this I'll update BIDU which was an idea brought up several days ago.

This short term trade is very dangerous as the longer term signals, charts, leading indicators, etc are all strong enough to steam roller over these short charts, don't think they can't be steam rolled in this environment. Remember the AAPL short (full size) I had in place and I closed it to re-open it as we had some short intraday positive signals, but huge negative longer term ones. Well I got too fancy and thought I'd be ok, the Dan Loeb's top 5 came out and those short term positives were steam rolled and I gave up fantastic positioning and somewhere close to -45%.


I'm very open to any new information right now that makes short term trade more visible because it's very useful right now tactically.

However so far from what I see in the Index futures there's nothing there to say the chop or MEAT GRINDER theory isn't probable, but forecasting twitches and jiggles in the market is really something of an art that I'd rather not engage in, I want to know as much as I can and then look for the screaming signal that says, "Don't ignore me".

As for the averages, again, there's nothing there that tells me the chop theory isn't probable.

Here's the current charts and as we've seen recently there is a lot of dispersion between them, usually if you know what one is doing you can pretty much guess what all are doing, those days have past. *Later, after market I will give you as much information as I can and my best interpretation of that information and some things I think you need to know.

 My personal Russell 3000 Most shorted Index is underperforming the R3K today, no squeeze, shorts are down.

New divergences from yesterday would follow the normal path, 1, 2, 3, 5, and here 10 min. The positive did start yesterday as I saw yesterday afternoon and this is inline, maybe a bit better, the new divergences for today again start at 1 min and then out...

2 min positives yesterday and in to today's lows, price up on that small accumulation and early signs of some distribution.

***THERE'S NO WAY THAT I CAN SAY THIS BEHAVIOR IS NOT CONNECTED WITH THE TYPICAL FRIDAY OP-EX PIN, it very well could be.

 3 min also from negative and then late yesterday/today positive, price up and apparent distribution in to those higher prices, this I am guessing would be the first swing in chop, but as I said, I'll update that theory on any new information.

QQQ 3 min shows what we need in 1 chart

IWM 10 min, note the size of the accumulation is very small vs what's around it, if you wonder why I say "I think this is noise", this is why.

 IWM 2 min negative in to the afternoon, still intraday signals though

And the 3 min migration following that.

BIDU is up next...