Futures Update (SPX/NASDAQ E-Mini)

The futures also gave a stronger signal more recently...

 ES 1 min (SPX)

NQ 1 min (NASDAQ)

This is the example I was trying to describe yesterday when we saw the 1 min intraday negative divergences, first that a "V" reversal is unlikely as it takes more time and second that price would come down somewhere around yesterday's low and allow the indicator to stay higher or put in a positive divergence, rarely do you see positive divergences or institutional buying in to higher prices, it's either in a flat range or falling prices.

Even though the divergence is leading, I use the white arrow to illustrate the "relative" positive divergence as price is lower and 3C is at the same level which is actually an improvement if price is lower, on other timeframes it's higher than yesterday.