Early Indications

So far on the open, the SPY, DIA and QQQ all have opening confirmation. The IWM is lagging a bit, but it does have a short term positive divergence in place which is what we talked about last week, that very clear range in the IWM attracting a break above the range so I believe it will get there.

Again, a rather short, but obvious Technical Price pattern has been used against trader who followed the bearish continuation triangle in the SPY...

The Triangle in red has no inherent bullish or bearish bias except for the trend immediately preceding it which was down, making this a downward continuation pattern and once again, as usual, that price pattern was used against technical traders with a break to the upside as was suspected last week, ESPECIALLY for the IWM which has a VERY clear range and much larger and more obvious.

More to follow on Futures.