Market Update

Finally those intraday negative divergences are looking like they'll start showing some downside. I'll have to look at assets like GLD, GDX, PCLN etc. as this move unfolds.

Even though VXX didn't pullback today as much as I would have like to have seen, it maintained steady accumulation/bid all day, there's some people looking for protection, but there are several events all culminating at once.

As I wrote a member...

"very short term, I think we have to be a little more patient, especially with Quad-witching tomorrow and the end of the quarter window dressing, there's a lot of games played on either one of those, with both it's insane and price often means nothing during that period, like I mentioned about window dressing, they aren't moving positions because they are interested in them, they want to look smart for the new prospectus and show they have the stocks that performed well through the quarter even if they only held them the last 3 days of the quarter, most people just see they have the stock and think, "Oh, that stock did well last quarter, they must know what they are doing", that's why we call it, "The Art of Looking Smart".

HYG saw additional distribution today so short term there's a lot of events that can cause quite a bit of volatility, but as far as what trend expectations and market expectations have been (distribution of the market, more importantly accumulation of VIX futures and distribution of the market manipulation lever HYG), that's right on track.

I have some charts I'm going to get out that include leading indicators, etc. Some of these may be a bit behind as the market moves, as it takes some time to capture, load and post them, but they should remain relevant in their point.