Monday, December 17, 2012

Futures look set to see downside

This probably doesn't have anything to do with tomorrow, but it looks like both NASDAQ and S&P Futures are seeing distribution short term tonight in to highs, their slightly longer 5 min charts are still in line which means the move tomorrow on the upside can still continue, there's no negative divergence on the more important 5 min scale that would be problematic.

 ES 1 min negative divergence

 ES 5 min positive and in line.

 NQ/NASDAQ 1 min negative divergence

5 min positive and still in line

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