Market Update

As suspected in the earlier market update, they were selling in to the pop, the SPY is holding the best, but you can see even it's distribution.

SPY and the DIA look the same, they are feeling the same distribution off the open as QQQ and IWM.

I'm not rushing to any judgements this early, but it does seem that interesting bit of information that we would glean from such a blatant overnight manipulation  is coming thus far loud and clear, the pros are using it to sell so far or short.

I'm still undecided what to do with GLD/GDX just because their cycles looked a little bigger and stronger, as I said last night... It was the risk assets like gold/GDX and oil that really had signs, I thought equities would benefit from the same atmosphere, but their signals were not the same as GLD, GDX and USO.