Annoying markets, a strong bearish stance and a tape determined to test it, with NFP due in 90 minutes and a forecast range wide enough to spin prices around and around. Inside: why the jobs reaction is inverted this cycle, the only chart currently behaving itself, and a payroll revision habit worth knowing about before the print.

Crash cancelled again, and the grind continues into Friday’s NFP with the daily averages at levels that make the whole thing a frustrating experience to live through. Inside: a tight narrow range on the SPX 10 min with ADD at a bullish extreme, what the Almanac says about how midterm Septembers actually end, and a Wall of Wins that filled up anyway.

The VIX has gone through 16 and is nudging 17, SPX is below its 2 week vwap, and the sentiment charts show something that has been building quietly since April. A handful of stocks have been carrying the indexes while the rest of the market has been voting the other way. Inside: what 7,600 signals, the Asian session break on ES, Bitcoin’s crown approaching the first assessment level, and a full Wall of Wins.

For most of this year the overnight bounce has turned up on cue. This morning it didn’t. ES has gone near vertical lower from the European open, Uncle Russ is leading the charge as usual, and the VIX is climbing towards the one level that changes the picture entirely. Inside: what 7,650 on ES actually trips, and why the inverted trend line on Bitcoin has just done its job.

Month end accounting, no black Monday, and a VIX up nearly 6% without a sell off to point at. Inside: why Tesla’s old support has been promoted to resistance and where the V entry targets, plus an update on Bitcoin’s rounding top and the inside day that handed out another low risk way into the bear side.

Bitcoin has reached its short sale zone and the short is filled, so now the only question is whether the level holds. Meanwhile Mr SPX gapped higher, traded lower, then pushed back up anyway, and the system is flagging a bearish setup with a note attached telling you to leave it well alone.