Market Update

i'm not going to go too much further with long exposure beyond what is already open which is pretty significant considering and this is for a bounce. The SPY needs to close about 3 cents higher to put in that bullish engulfing pattern I talked about last night which is the 3rd or confirmation candle of the Harami bottom (bullish) upside reversal candlestick pattern.

It's amazing, in the last 10 or 15 minutes there has been more movement that the last 3 or 4 hours.

The Nikkei 225 futures were hard to get around, they are in a positive positive with good signals for a bounce. All of the charts from last night are hard to get around, it just seems traders are waiting right until the close to make their moves which is something several people have commented on over the last week; this is their normal practice any way, but this is taking it to the extreme and showing how little influence retail really has on the market.

What I had done just before deciding on the VXX position is what I'd call," Going back to basics", the old Telechart 3C versions, where you didn't have the same accuracy and timing in signals, but you have a very blunt trend that's unmistakable and the bullish/bounce trend was there on those charts. Right about the time I made a decision to go with those charts, the market started really moving (mostly underlying trade, but that should lead to price).