Quick Market Update- Out for 30 mins

I need to go get a blood draw done a few minutes away from my house, this apparently is the only time I can get it done today as the doctor is leaving early and the office closing (my after the close appointment up in smoke). I don't imagine it will take more than 30 mins or so.

In any case, it looks like once the max pain options expiration pin is released, normally around 2 pm, there will be an attempt to close this morning's gap, perhaps more intraday, it's not of much concern as the market has been ruthless about filling gaps.

Again the leader pointing to this probability is the QQQ, the SPY and IWM have slight improvements in that direction, but without the QQQ signal I'd never have suspected that the SPY/IWM would make a gap fill move toward the afternoon/close.

Here are some example charts...

 QQQ 1 min leading, there is migration intraday now...

 QQQ 2 min starting to lead.

QQQ 3 min starting to lead.

As for the SPY...

 1 min is pretty much still in line intraday

 As is the next timeframe at 2 min

The IWM actually has a slight negative tone...

 IWM 1 min

 IWM 2 min in line then slightly negative

 As is the IWM 3 min chart.

Perhaps the best evidence though is the NYSE TICK chart...

Note the improvement intraday as the afternoon wears on.

However we can't forget this is intraday and it is common for price to act randomly during the last 2 hours after the pin is released, a gap fill makes sense.

The bigger picture...

 IWM 5 min at a new leading negative low today

QQQ 10 min also hitting a new leading negative low today.

And SPY 10 min also hitting a new leading negative low today.

I'll be back shortly.