Market Update

This move in the market feels like death by a thousand needles, it's slow, there's really nothing worth trading as far as strong set-ups go, every little gain in price is being sold and keeping volatility low, the TICK all morning has been in a narrow range of +/- 750 with no spikes above or below, just a slow, mindless grind;  it's a market that's very easy to lose your concentration in which are the most dangerous.

As far as this morning, all Index futures are negative intraday. As for the averages...

 Intraday the Q's went negative -AAPL had a little something to do with that in my opinion.

The 5 min Q chart from yesterday that really shows what's going on here still looks horrible, but not that much action added today.

I doubt we see much action added unless there's price gains/demand to sell in to, thus the very slow, low volatility.

The base with the positive divegrence on the QQQ 10 min chart is still intact and until this turns south, I suspect it's just more of the same. The one major difference is several months ago in Q1 or Q2, a base like this could be counted on for an easy pop that was had decent enough signals that you could trade it, but those seemed to be more sentiment shake-ups, this one has a different character that is along the lines of the last two, every little gain in price is essentially sold.

 SPY intraday still leading negative overall and negative intraday today.

It too though still has that 10 mi base supporting this somewhat boring grind.

The IWM is of some interest today as it has had the best underlying charts and that is starting to change today as the intraday 1 min goes negative, but this isn't really that interesting, it's the next chart.

The 3 min where there's heavier underlying trade activity is starting to lead negative like the Q's saw yesterday.

The TICK is extremely boring, like I said, nothing above or under +/-750 which is pretty much a range bound market's readings, no channels, nothing thus far.

The only thing that the market is concerned about right now are these charts...

 VWAP! This is for ES and..

This is for NQ.