Market Update

I'm not sure what caused this intraday bounce, but something seems to have lit it and it's not the Carry correlation (not AUD/JPY, not EUR/JPY nor USD/JPY), take a look.

 This is the USD/JPY (candlesticks) vs ES (purple), the correlation alone suggests this move will fail, we've seen this happen with larger moves this week both on a fail and a bounce.

The only thing I can see here that "MAY" have caused a bounce (because it wasn't intraday averages either, you saw them in the last post going negative) is the fact that USD/JPY $102 was tested and held at $101.94, close enough.

However I can't see this break from the correlation lasting, I'm more interested to know what caused it.

Just like the SPY, QQQ and IWM I just posted, ES futures intraday (1 min) are negative on the move.

NQ (NASDAQ 100 futures) intraday are REALLY leading negative

And even though TF (Russell 2000 futures) had a nice positive divegrence at the lows pre-market, it too is showing a strong intraday negative divegrence.

Even the VIX futures correlation (opposite the market) is showing a negative at the market lows from which they bounced and a positive developing as the market bounce seems to be failing.

This "could" be op-ex related and I'm not curious to know what caused it for curiosities sake, I need to know for analysis and make sure nothing is changing.

In any case, I'm going to keep looking, I thought this was at least useful concepts you could use and possibly useful information if I have to build on it later.