ES Futures Update

ES continues to fly in a leading positive divergence

 Yesterday's after market Moody's Spanish Regions downgrade, the European open at the green arrow


The European and US opens at the green arrows, a large positive divergence in ES that is leading to the upside in a big way.

I have a lot more to look at, but as you can see, I'm using these lower prices to add to the leveraged long positions that I feel are a decent tool for a shakeout move up, if I feel it will be something stronger I would probably cut back on short positions, but as they are now they are working well and have a nice hedge in place that actually works and makes money on days when a hedge should do nothing more than hedge. I'd also enter longer term positions and move out of the ETFs if I felt we may be looking at a longer term move to the upside.