Closing Indications

There are a number of interesting things going on, it's hard to keep up with them especially as they are rapidly changing. At the last post it seemed as if the TICK was going to support a move to higher prices, something I would have liked to see anyway in the Russell 2000 in particular, but the TICK has essentially failed, there's a lever being used to ramp the market, but it looks like in to distribution.

TICK should be significantly higher and in an uptrend, it has broken below the channel which did not reach beyond +750.

The SPX/RUT Ratio is failing as well or continuing to do so.

The very indicator that had been forecasting a move higher by not confirming the downside at the white arrow is now not confirming the upside, this indicator has been very accurate since we started using it.

VIX is also outperforming the market and VIX futures as well 30 year Treasury futures are outperforming as well.

TLT should be moving with SPX which has price inverted to show the correlation that is natural. Instead 20-30 year Treasuries are outperforming.

This is the same thing that happened in to the day/s following the last 2 F_O_M_C meetings, erasing all of their knee jerk gains and then quite a bit more.

Bonds which closed at 3 aren't showing the full extent of the dislocation as 30 year rates have dropped more since.

30 year rates which were leading the market positive are leading it negative now.

In index futures, NQ and TF are showing sharp divergences, ES is not confirming but looks a bit better intraday.

 NASDAQ 100 futures

Russell 2000 futures.

I'd still say to be patient, the 1 min and 7 min charts are negative, but the 5 min charts and a few leading indicators still need to turn.

I think when we are at the moment to make a move, the 5 min charts will be very clear, although just as everything that was leading up to this move providing evidence of the theory from last Friday, everything is moving in the opposite direction now continuing to provide the evidence of the full theory from last Friday.

I have more charts to get out, but I want to get this post out ASAP.