Quick Market Update

While Index futures intraday are largely in line, the charts of the averages I showed earlier this morning are deteriorating at a much faster clip than would be expected for an op-ex pin day.

I need to re-organiize my task list and look at the partial positions like FAZ, SQQQ and other inverse ETFs that need to be filled out.

SO FAR THE AVERAGES HAVE STAYED FAIRLY CLOSE TO YESTERDAY'S CLOSE AS IS TYPICAL OP-EX PIN BEHAVIOR (PINNING RIGHT AROUND THURSDAY'S CLOSE). the IWM is the weakest at -.19% followed by the DIA, SPY and Q's are marginally green, less than a 1.10th of a percent and in line with a pin.

The issue developing is the following, rather than maintaining intraday steering divergences, we are seeing the kind of tactical entry divergences that compliment the strategic negatives that are already in place. In other words, this is what we look for to open trades that we have interest in.

 This is SPY 1 min deterioration for this morning only, this is not the typical "steering divergences" we usually see from 9:30-2 p.m. on a Friday.

 The DIA and it's migrating to longer charts, this again is this morning only (red).

 The Q's are migrating as well.

The IWM has the best looking 3C chart right now, I suspect that is because it has lost more ground and it's trying to be propped up.

You can see VERY clear breadth deterioration on the NYSE TICK Index since yesterday.

 That's a very defined channel, this may be worth watching as we often get early warning from a break of a channel this defined.

And the Custom TICK indicator.