ES Update

The ES Update is actually quite interesting...

 First, 3C seems to be working well on the intraday ES chart, calling out 2 negative divergences and now as I proposed in the last post/market update, there's a positive divergence developing; this divergence could become bigger or it could just make an intraday move higher, my guess is it becomes a bit bigger first.

As for CONTEXT for ES overnight and to 10:51 a.m.

What is interesting is that yesterday we had all the positive divergence (even though they were on short term timeframes which led me to call them "noise within the trend" as we expected there would be), the underlying assets such as currencies, credit, yields, etc that make up the ES model have been trading higher than ES or in other words, the other risk assets that normally trade up with ES are trading up giving the model a higher position than ES, so it seems traders in these other markets also expected a move higher or at least not a crash even after AAPL's horrible earnings and confirmation of a UK double dip recession.