Quick Update

That 5 min ES chart is still a little bothersome, but the averages all continue to move in to deeper negative intraday divergences.

In addition, VXX/UVXY are moving toward stronger leading position divergences.

I'd say things are moving the right way, I'd  also say a little more patience is probably prudent.

The Yen's intraday 1 min is repairing itself, but it's still not at a mature reversal process and it needs to lead more, the 5 min chart and 15 min chart suggest it will get there, again I think it's a matter of some patience.

While VXX is generally looking much better, intraday it looks like they'll try to bang the close, you can see it in the quick slide in VXX 1 min.

I'm going to check on leading indicators.

By the way, PCLN finally did it, it's not ready for a trade yet, but it's finally made it to the area we've been looking for.