QUICK UPDATE

There's not a whole lot to do unless you want to jump in a bit early, otherwise it's just patience, confirmation, execute.

Since the last update as intraday 3C signals were moving toward an intraday pullback which was needed to broaden not only the head fake move's reversal process, but to allow accumulation signals to grow stronger and they (smart money) aren't doing that in to higher prices, they , like us, won't chase and they really can't afford to.

 This again is the SPY base with a head fake move under support (stop-runs) and the widening of that head fake move taking place now as "V" reversals are not common, they are an event whereas most reversals, even sharp ones are a process.

Remember I told you to watch the 1 min intraday NYSE TICK Index for a break of the channel as early warning, this is useful for intraday trades, although this isn't the environment I'd be placing those kinds of trades right now.

And our custom TICK shows intraday breadth improve today and it's falling back just now.

SPY is leading positive 1 min , but has the intraday pullback signal mentioned in the last update.

The Q's 1 min have a very clear 1 min intraday pullback, this isn't heavy distribution, more along the lines of steering divergences .

And the IWM.

I have price alerts set on all of the averages right down to a new stage 4 (decline) low which is where I'd want to consider call options as long as the positive divergences confirm it and are strong enough, you might want to start looking at which assets and strikes/expirations you might be interested in and just have them ready as we "could" see a sharp upside reversal on a new low.

I'm still keeping long term core shorts in place and using the 3x leveraged long ETFs like TQQQ, UPRO, UDOW, URTY, FAS, etc. as my trading positions, I might look at XLF call options rather than use FAS if I feel it looks worthwhile.

Still, just being patient and looking for what we expected to see which is so far, right on track.