MArket Update / TLT / TBT Update

We have some small intraday positives developing which is completely normal, nothing moves straight down or up.

So far I have 1 min positives forming in all of the Index Futures and on 1-2 min SPY, probably a 1 min on the IWM, it's a bit different, but I suspect that's what it is. There's nothing on the Q's.

The TICK data also looks like there's some attempt to relive the downside pressure. If you consider your correlations like VXX / UVXY and them coming down and broadening out a base as I mentioned a few posts back, this would actually be helpful and give us a stronger set of probabilities to work with.

Today's TICK trends, early very mellow and the downside is appropriate with the move as we have an extreme of -1400, that's 1400 more NYSE stocks trading down than trading up. You can see TICK has popped out of that channel, it may not be done, it may come back down a bit and then move to the upside a bit, but there's a lot of damage from today and as you can tell from the update, even the intraday divergences aren't any further out than 2 min and there aren't any on other averages like the NDX/QQQ.

Treasuries (at least longer ones like TLT) looked a little like a small pullback was coming last night, but overall look strong.

The TLT charts are interesting, it should pretty much move opposite the market so a pullback here would also fit.

I think the TLT charts look better right now than the TBT charts and since TBT is the actual short term trade, I'll probably wait it out and see if it strengthens up. You'll also note that TLT's 5 min isn't negative and that's usually my standard for a short term trade, divergent out until at least the 5 min chart, otherwise, the signals are interesting.

 TLT 1 min, very sudden ben in 3C, already relative negative

The 2 min is really beautiful, if the 5 min chart looked like this, I'd be on TBT right now.

3 min TLT chart looks as it should, migration is making its way through the timeframes, but this is the hang up below...

TLT 5 min, not what I'd need yet.

The 30 year Treasury futures are also negative as they were last night in the short timeframes, 1-15min.