ES Update

To the left you see the chart of ES I showed you earlier as it seems reports of government budget failures and resignations in the EU seem to have been leaked as 3C on ES was deeply leading negative at least an hour before price even started moving down. On the New York open we have a relative positive divergence between about 5:30 a.m. and the opening lows in ES (a relative divergence is not as strong as a leading divergence such as we see to the left in red). For ES to put in a strong positive intraday divergence from here, price would need to near (assuming it continues moving up) the $1362 level and 3C (light blue) would need to be above the white trendline. That would give us some positive divergence, otherwise there's not much of a current indication here.