A battle

Yesterday put in lows around 1066 during the morning action and did so without any high minus tick. The absence of minus tick readings on this move down in the market is strange as the instances of a minus 1000 tick or greater have been very limited. My daily CCT did net +10 instances yesterday bringing the total to +141 for the short term. I would have liked to see more of a capitulation on this move down with some sever minus tick but we did not see that. This accompanied with the fact that the bonds are holding at their lofty levels along with expiration weeks makes me suspicious of this move up as we are up 9 points in the globex session as of this writing. However, the bonds are way overdone and if they come off we should see additional room to the upside in the equities.