Early Opening Indications

As you probably know I usually don't look at opening indications this early because the indicators typically need a little more time to catch up to price, at least 20 bars for most timeframes, but because several of the averages already had 1 min. positive 3C divergences in place at the close yesterday, those divergences look like they will be providing some early support as all of the averages have opened either with confirmation on the early chart or in fact with a positive divergence.

Futures are in a little different spot, not quite as supportive right now, but they are in the area in which they aren't far from providing positive divergences or support for the market in early trade.

I'll update as the data comes in, but that is my initial gut feeling, we will see some early support of the market as I talked about last night.

Looking at the bigger picture of the tactical move above resistance in most averages, the re-taking and surpassing of the 50-day moving average, etc. there is still one average, the NASDAQ 100 that still is just a little below a clean break above resistance and just as I thought the break above the IWM's range would be the start of this move, the break above the QQQ resistance may indeed be the finish of it, the one task left unfinished.