Afternoon Market Update

IT IS AMAZING HOW LITTLE HAS CHANGED ALL DAY.

Instead of posting all the charts I'll tell you where they stand, SPY 1 min is positive, 2 min is in line and it goes negative at 3 min and beyond.

QQQ 1 min is positive, 2 min positive, 3 min and beyond are negative.

IWM 1 min is in line, 2 min and beyond are negative.

I said on Friday that I was glad I already had a UVXY position because of this scenario exactly.

The VXX still has a 1 min negative, but that's it, otherwise it's strong.

I'm starting to wonder if these divegrences are just place holders, enough support to keep the market from collapsing while retail buys as they have been doing as far as we can tell from stocktwits, not a great idea in my view.