Market Update

I'm not sure if you finished reading the last market update as it contained some macro perspectives that are important this week, but it showed the positive divergences I mentioned in Quick Market Update and how those were fading intraday, they have now faded significantly more.I don't think this is the end of the volatility, although I do have a few more assets to look at, I think Nikkei 225 is likely to bounce not just through futures, but in the cash market overnight so I think volatility and chop are still part of what we should expect over the next 12-24 hours, but as we saw in the last update, the intraday positives that lifted the market are fading.

 TICK trend has broken the up-channel as I said it was thin and weak and moving down, as intraday breadth declines.

 $USDX going negative on the day from the overnight move that was forecasted.

The $USD/JPY is key here as this was part of last night's forecast, it finally looks like it's near weak enough to start to collapse.

 ES going negative intraday

30 year Treasuries which have supported the market with weakness today are going more positive.

TLT which confirms 30 year T's above is also going positive

SPY going negative since the last move.

QQQ as well

And IWM

With DIA showing a sharper leading negative intraday

And VXX which is STILL outperforming the SPX intraday as it did all last week is still outperforming along with spot VIX. VXX is going positive here.