Leading Indicators Update

After a quick look at Leading Indicators, a few things stood out, #1 VIX is not being monkey hammered in to the close as has been the trend until last week when it closed green on the week and the best close in 5 weeks. VIX is actually moving up in to the close more than the market correlation would suggest.

Our two professional Investor Sentiment indicators are both about as negative as the 3C charts I just posted in the last update, they are not only not buying this move, they are as suspected in the last post, selling it.

Also of note, as expected when we entered the TBT short yesterday, Treasuries (the traditional Safe Haven" trade are rallying. This means Yields are down and they tend to pull equities toward them, there's a pretty decent dislocation between yields and the SPX.

TICK remains in the downtrend channel , TICK is ALL NYSE stocks ticking up per bar less those ticking down, so intraday breadth since the uptrend channel first broke has been turning more and more negative.

I'll post additional charts /leading indicator charts after the close.

Remember tomorrow at 8:30 we have Non-Farm Payrolls as well as the weekly options expiration pin.