Market Update

I've been watching the market change character for the worse as we approach the 2 p.m. hour which is usually when things change on an op-ex Friday as most of the contracts are closed.

I'm not impressed with leading indicators, but beyond that, there seems to be a lot of damage being some intraday in the averages moving toward 2 pm and the Yen looks stronger and stronger for its next leg up.

I hate to open a new position right as we get the pin/unpin moment in the market on op-ex, but some charts are just falling apart that fast.

I'll leave PCLN puts at the same size for now, but am considering adding to IWM puts, I have good exposure, but if I didn't I'd be thinking about longs in SQQQ, SRTY, SPXU , VXX or UVXY.

I'm going to try to pay attention a bit more and I may make some quick calls. The signals I look for in VXX are coming together and of course more importantly, the Yen is really looking like it's ready for a new leg higher which is bad news for the market.