Closing Market Update

I still think we have gas in the tank as of right now for more on the bounce, I would have expected more as of yesterday, but something happened today and the levers are pulling out. Look at the distribution in HYG, they can't get out fast enough.

 HYG had more in the tank, but that is changing very fast today.

Something changes and it looks like we'll likely open on a weak note tomorrow, I wouldn't say that the gas in the tank is fouled yet, but I wouldn't be surprised to see a negative open, remember though it is an op-ex Friday so look for the pin somewhere around today's close at least until 2 p.m.

 QQQ 3 min damage done today, it is migrating at a pretty fast clip considering.

However this 5 min chart like most others still has gas in the tank and is still in decent shape, I wouldn't call an end to the bounce without this deteriorating, but as the rate of deterioration today, something DID happen, we may be there tomorrow.

At the 10 min chart, we never went positive so once the 5 min charts go negative, this bounce is done.