With markets on tilt - we are in a large time convergence, not to mention an extended and out of balance position. Large non-confirmations in important markets and a internal metronome pounding out the beat of downward pressure that is being fought by the markets. For our part, we avoided being surprised by the two biggest moves this week, strength overnight into Monday and strength into yesterday which is the majority of the points generated this week. However, it is nonetheless a incongruent and frustrating environment as markets have a lot of pressure within pulling at them and so far remained unacknowledged - creating a large divergence of these pressures. General downward bias in tugging at market probabilities again today. The key is to watch for confirmation of this action succeeding as represented in the chart below. Probabilities and market structure has been sloppy this week - therefore less useful than usual.