Movement in S&P/NASDAQ Futures

 ES (S&P E-Minis) are seeing deterioration now.

The NASDAQ mini futures on the 5 min chart also are deteriorating quickly with all of yesterday's move in a leading negative divergence, as mentioned before the ECB announcement, "Watch out for the knee jerk moves" as well as the broader concept of, "Don't get lost in the lines", meaning step back, 1 day a trend does not make, however 1 day does make for a nice bull/bear trap more often than most realize.

Yesterday's parabolic move was suspicious as all parabolic moves are, combined with a Central Bank statement and the accompanying knee jerk effect, it becomes more suspect.