Market Update

Initial impressions are there's a bit more weakness than I expected, although it is still early in the day and the week, still I can't ignore what's popping up and need to keep an eye on the situation.

The TICK Index has been mellow again today, pretty much in the =/- 750 range which is quite mellow.

It's the divergences that are interesting.

 The IWM 1 min is a bit different, but this is the shortest timeframe, it is slightly positive intraday.

However at 2 mins there's a negative trend developing.

QQQ 1 min intraday is a bit surprising.

The 2 min chart is seeing migration as well. You can see Friday's positive divegrence I mentioned, it's not very big and proportionally, the current negative is almost about where I'd normally expect, not accounting for the market's tendency to go more extreme than what seems reasonable, still, the divergence is there and apparently growing.

 This is a QQQ 5 min chart, you can see the negative trend right on this move off Friday's lows.

For some perspective, this is the same chart as above, just zoomed out a bit so the weakness is more than just intraday.

SPY 2 min today

And this is a kind of surprising, fast 3 min leading negative divegrence in the SPY, ALL of it from TODAY ALONE.

I'm also watching the VIX futures as they seem to be one of the more important timing cues, we don't have any screaming signals as it was apparent they were pushing ti down Friday, but there's at least a start in VIX futures, 1 min.

Intraday VIX futures going positive intraday 1 min

Obviously worth keeping a close eye on considering what I was talking about Friday as this looking like a very slippery slope and a such, dangerous or very profitable on the right "slip".