Quick Update

Now that's a knee-jerk reaction, there were some interesting tid-bits in the minutes, but that's for another time.

So far intraday charts are confirming a parabolic price move, as you know,  I never trust parabolic price moves either up or down, however yesterday's flameout on the downside represented by overwhelming breadth oversold conditions did suggest a close higher today which we were working on BEFORE the minutes came out.

The NYSE TICK is showing some cracks in the parabolic knee jerk move thus far...

TICK up-channel has broken, worse than this now.

Also our Custom SPX/RUT indicator WON'T confirm the move, it is still calling for lower prices which would give the market a chance to build out the base to make a move up reliable, I would not call a parabolic move reliable.

I'll have more shortly as the divergences roll in.