Quick Futures Update-Knee Jerk Bounce Likely

The Index options, there were leading negative divergences in just about everything so they are either negative or in line, the only thing that stands out is the 5 min NQ chart.

This is the 5 min NASDAQ 100 futures, they are still in a leading negative divergence, but the relative positive suggests a bounce short term followed by downside which would be nice, but I don't know because no other ES or TF confirm in any way. The 5, 15, 30, etc min charts are all leading negative there and in NQ as well, just this 1 timeframe.

Quickly, currencies

The USD has a 1 min positive divergence, 5 min is positive, not huge though, the longer charts are stronger. No real magic bullet there, it looks like the market is unsure.

1 min Euro has a positive divergence, interesting this close to the F_O_M_C. The 5 min looks like NQ above, except a deeper leading negative position-so do we get a knee jerk bounce? Euro seems to think so.

The same could be said for the $AUD, not as obvious, but there. The 5 min is leading negative, but does have a relative positive.

The 1 min Yen is slightly below price, not confirming, the 5 min is in line, I think the Yen COULD be out of the game if we do get a knee jerk bounce, it won't interfere, but it will come back in to the picture.

The EUR/USD, USD/JPY, EUR/JPY and AUD/JPY all have 1 min psoitive divergences, many in the last few minutes, these are all market positive.

I think we get a knee jerk bounce.