NASDAQ Futures

This is an interesting divergence, not just because of the way it looks now, but because there seems to have been a plan underway and you can see exactly when that gets thrown off track by the geo-political wild card in Israel, however the Futures still seem to be working toward the original plan.

Overnight 3C is more or less in line with the NASDAQ mini Futures,  just after the European open there's a negative divergence, not big, but enough to send the futures lower and as they approach the pre-market 8:30 mark there's a positive divergence put in, they even go on to start leading positive until the orange arrow which is the IDF strike on Hamas. However since then, this leading positive divergence is quite extreme on the upside, I'm actually surprised to see it there.

Right now we are seeing some of that backing and filling I mentioned in the last market update...

All of the averages are now starting to show improvement, incl. the SPY/IWM.

USO update is next