Futures

Futures look choppy as they have all night, however when that happens there's usually some underlying trade going on as HFT's scalping is hard to identify direction on short term charts, but as always, "When in doubt, go to the longer term charts" and there we see something interesting along the lines of that S&P bear flag head fake move that locks in the shorts and then lets their covering do the work.

We're in an area I'd consider a leveraged long market index like TQQQ or URTY as a short term trading vehicle to take advantage of the signals on the futures charts as well as other signals building or in place.

As a matter of fact, I'm going to be looking for a speculative entry in 2 parts in one of the leveraged market bull ETFs, maybe UPRO, URTY, something along those lines.  I'll post them when I find them, but the first will be soon.

Here are the futures charts for the S&P and NASDAQ minis

ES-SPX

 Like I said, the 1 min charts are very choppy like trade, likely HFTs / algos muddying up the water, but go out longer...

 5 min ES leading positive right at the flat area where accumulation is most often seen.It's always the dull area of the market that is the most important.

 Check out the ES 15 min chart, leading positive at a new 3C higher high.

 And the 30 min ES, negative from 10/5 and now at a new leading positive high.

NASDAQ futures...

 Again the 1 min is very choppy, but the overnight range has also been narrow.

 However the NQ 5 min needs no annotation.

 The 15 min negative at the 5th of October and leading positive in a big way now.

NQ 30 min.

These are solid signals on important timeframes, to me, very much worth taking a long position and I don't think it matters too much which ETF is chosen as everything is so highly correlated, but I lean toward the S&P or NDX on a leveraged basis as this is for a shorter term trade of maybe several days.