Market Update

From a divergence/trade set-up point of view, the market is has been dull today, mostly confirmation as I just went through 10 different futures from Index futures to currencies, to VIX futures, gold, oil and Treasuries and looked at each in 8 different timeframes.

The moral of the story for the most part is the market is doing what 3C has been saying it would do, although this is far from the worst chart...However there are some intraday surprises building in the area, none I would take action on yet, but getting more interesting...

 60 min ES / 3C chart with a leading negative divergence and price is moving toward that divergence.

The same chart except the NASDAQ 100 futures.

Intraday, the SPY can't get anything going past a 1 min chart, the 2 min charts and longer are confirming all of the downside not only from today, but since last week and near perfectly.

 One interesting spot, but also something we had forecasted quite a while ago, the carry trade looks to be under growing pressure again and that makes sense.

 The 60 min $USD after the strongest 7-day counter trend bounce (or any move) in 7+ years, it has failed and is heading lower.

A couple of years ago I wrote that the Yen would head higher as the market breaks down and we have been watching that divergence/base build...

The 60 min Yen Futures leading positive divergence.

In other words, all of the things we have been looking at that suggest we have topped and the carry trade is unwinding are all showing up.

Now intraday interest...

 SPY 1 min leading positive,  this is the best intraday SPY divergence of the day, leading positive.

It looks like it may have found a toehold in the area.

The Q's are showing something similar on an intraday 2 min chart.

The DIA as well.

Like I said, I wouldn't go charging off, but at least now some potential opportunities are more likely to open up.

I'll likely have some more intraday updates as things can happen quick from here.