Market Update

Obviously I'm not going to rely on charts that are anything other than NASDAQ, however this all seems a little surreal, as I said this morning about that 60 min VIX accumulation that was larger than the last leg down when the Dow lost 1200 points, I don't ignore charts like this.

It seems to me something's going on. The Es trade that sent the market higher looks to be a result of the broken market, not a real trade and all of this started on 12 day old news! Something doesn't pass the smell test here.

In any case, the NASDAQ / QQQ looks exactly how I'd expect it to in to a head fake move which is what we theorized we might see earlier this week on the rounding top.

 QQQ intraday from in line to negative at the cross above yesterday's close to leading negative.

 QQQ 2 min at the entire head fake area.

QQQ 5 min at the head fake area.

All Index futures intraday charts are leading negative and they are falling, whoever was accumulating VIX futures was either a fortune teller or pretty lucky or...