Quick Update

As with all Fridays that now see some sort of o-ex pin with the rise of the weekly options, it looks like today is another pin, they typically seem to wear off around 2 pm.

What happens after 2 p.m. is important, but it's always much more important for 3C than price as 3C time and time again picks up on whatever divergence it closes with the next trading day, even over the weekend.

TICK is going negative as are the intraday charts

SPY Custom TICK Indicator.

There are a couple of averages I might consider positions in although as I said yesterday I don't want to get too involved in a shorter term move, but it would be beautiful to see a short term pullback that allows the 1-5 min charts to go as positive as the 15-60, that's a full house on the move we've been tracking since the 34th of Jan.

IWM

 The Q's and IWM have my interest as potential short term shorts, I'll give them a bit more time and see what they look like after 2 p.m.

IWM 3

 QQQ intraday- yesterday's divergence has grown worse.

Same with the QQQ 5 min which is the chart that makes me take this divergence seriously.

Really as I said yesterday, for the most part I'd prefer to stay out of the mix on this move, but the really sticky area for the market and the reason I'm now re-considering is 5 min charts going negative, that has historically (for futures) been a pretty solid trade.

ES (E-mini SPX Futures)

 NQ 5 min relative and leading negative

And TF/Russell 2000 futures, I've been leaning toward TF/IWM, but I'm going to be patient and see if this is just something I'd rather sit through or participate in (beyond the VXX calls position).