Market Update

So far there hasn't been much to do but watch and wait, the intraday charts are ugly, but the slightly longer charts are not giving ground which tells me there should be an upside transition at some point soon. Well it's VERY early, but it feels like that transition is starting.

 SPY 1 min looks like it is very early in to the start of a leading positive divergence and it looks like it will transition from down to lateral which is the first step in an upside reversal.

 As mentioned, no damage to 2, 3 min charts and the SPY 3 min is still leading positive in a big way (at least for the near term).

ES intraday futures are showing improvement as well.

As are the completely in line Tf/Russell 200 futures with the first divergence of the entire period since early yesterday morning. If this turns out to be something, than I may fill out that IWM call position to full size.

And the custom TICK shows intraday breadth changing tone to more positive as you can start to see the SPY starting to make the turn to the right and toward a flat trend, again the first step in an upside reversal.