Market Update

I've maintained my SRTY position and at a decent gain, I'd consider other positions, but I want to make sure the IWM is actually falling apart as it has been the best looking 3C chart since overnight/early a.m. Index futures as seen in the A.M. Update.

There's more damage being done to breadth at -1250 again today so what you see in price alone is not representative of what is actually going on with 1250 more stocks selling off than gaining on the NYSE TICK, this is the second time this has happened today.

As mentioned earlier the USD/JPY looks to be experiencing some brewing trouble it has increased since the last update.

 USD/JPY is seeing a stronger negative divegrence forming

The $USDX continues to see a negative divegrence and the Yen...

On a stronger 5 min chart continues to see a  strengthening positive divegrence, now leading positive.

 The SPY 1 min shows significant damage at the 10-11 a.m. period when TICK hit -1250, this most recent divergence has also hit an extreme TICK reading of more than (or less than) -1250

 The 2 and 3 min charts that weren't showing much are trending more negative rather than just noise or in line as you see above on the SPY 2 min, likely migration.

 QQQ 1 min as it seems in line right now, but on larger timeframes or underlying flow...

It's clear there's been significant damage just several minutes ago.

The 3 min chart is catching up as well.

This is also appearing as it did yesterday in numerous stocks on the watchlist. While AAPL as not there yet as far as signals and the reversal process.

 AAPL 3 min from in line to a leading negative divegrence, most from late yesterday and today.

The IWM has seen the same divergences in the same area, but overall is still in line intraday.

 This last divergence may change things, this is the 2 min and this area around 2:15 p.m. saw a lot of distribution intraday among all the averages.

Still the IWM 3 min chart, despite intraday averages is in line, I would like to see this flip before making any decisions, especially with GDP tomorrow before the open and the F_O_M_C.

Here's the NYSE TICK intraday again hitting -1250 on the decline from the 2:15 highs.