ES Update

Here's ES going in to pre-market to the present.

Typically we see a big move on the open and intraday volatility reverse that move at least once, but when the market changes character (on something like a reversal), a lot of the behavior that was predictable suddenly changes character as well. Long term-important signals or the Strategic/Big picture, have been significantly divergent, that's when we come back to short term signals to look at timing, they too have recently been negative and falling apart.

Keep an eye on the VIX, VXX and UVXY as well today, they could be very telling with regard to the divergence between the VIX and implied volatility.

A negative divergence off the overnight ES highs in to the North American pre-market and open.