Market Update

There are a lot of different things going on in a lot of different places, very short term it looks like corrective action, that's why the R2K which is down -.73 and IWM -.84% look the best in underlying trade, they have the most to correct, market's do not move straight up or down and many of us have forgotten that as the F_E_D has created an artificial Bernanke Put, but markets are starting to trade more like they normally or use to so it's going tp be an adjustment.

The level of dispersion between assets is stunning.

I'm not impressed with much short term in the Index futures, the long term probabilities or the strongest probabilities because there's nothing long term (as in far off) about this, look like this all over.

 The 60 min Russell 2000 futures went negative, the R2K turned down and is the worst performer on the day, but just looking at price I can tell it wants to correct in a more normal market atmosphere, that won't change the very negative probabilities of this chart and the asset.

Short term the futures aren't exciting, but look at the 1 min R2K futures...

Look at that divergence, I'm guessing it holds through tomorrow, not just overnight.

There is so much dispersion, there's no way I could even give you a feel in an hour of writing it all down.

I'm going to instead look for TRADING opportunities and some CORE longer term opportunities like BIDU instead for the last 30 mins. and then I'll try to put this together tonight, but there's a lot of bad news charts for the bulls, but as I said (I think this morning or last night), "VOLATILITY AHEAD".

We may very well just see an out of nowhere crack, that 60 min chart is the warning it could happen any time.