Quick Market Update

The market right now is looking more chaotic than ever. The expectations of a top pattern in the form of an Igloo/Chimney or rounding top with a head fake move up before failure are still intact, but this is by far one of the sloppiest set-ups I've seen this year. I'm going to take a different approach to this, one that served me well years ago before I developed 3C, but a very time-consuming one, going through a lot of charts at the rate of about 1 per 2 seconds unless I see something stand out. You will usually see a common theme start to develop if you go through enough, but that's generally a couple hundred which is why I go through them so quick. If they have something to tell you, they should stand out and be easily seen.

I'm also going to spend some time early on with leading indicators. My biggest fear right now is that the market collapses before we have filled out additional core shorts/trend shorts. My fear is NOT the other way around. For those of us with core/trend bear positions already set-up, it would be a welcome development, but I'm not worried about the market getting there.

I do want to get a few updates out first. I do still think Treasuries are going to be an interesting trade, but they probably need a day or two before they are ready, but I'll be keeping an eye on them for a nice looking set-up.