Market Update

This has been an exceptionally boring day and you'd think I'd feel a bit different with a 70% 2-day IWM call wrapped up, but it has been a slow, grinding day, it's no wonder that there's very few set-ups in this environment. However there has been at least come confirmation in the trend.

 SPY 1 min from early opening accumulation to late distribution.

SPY 2 min confirmation

SPY 3 min confirmation

SPY 15 min you can clearly see a bear flag, the probabilities are usually for a head fake move above the flag before a move below it, but there's just not the kind of accumulation we usually see before a move like that.

QQQ 1 min, I'd look at shorting/fading this if there were something more to work with than  0.08%

 QQQ 2 min confirmation

3 min with a few divergences, but mostly in line

And QQQ 10 min trend during this area.

IWM 1 min intraday

2 min showing Friday's positive divegrence and in to today's much more negative divergence.

IWM 3 min migration

And the trend on the 10 min chart in the area.

While it may be slow moving trade, at least there's robust confirmation between the timeframes and averages.