Market Update-Amazing

Yesterday in this market update from 2:56 p.m. I showed you nearly day long triangles that I said would break to the upside before we see any move down. Then in this update yesterday just after the close I showed you how price had just barely moved above the triangles; I said,

"It will be interesting to see how the futures play it overnight, they won't stay frozen here, "

but the averages staying in that area until the market opened today or just before was an important part of the theory, I thought maybe futures would go up or down overnight, but by pre-market land almost exactly where they were at the triangle area from yesterday's close, something more amazing happened, the futures BARELY BUDGED ALL NIGHT from that closing area, when the NFP Employment report came out, we got the strong breakout we were looking for that was assumed to come from currency or the NFP.

Take a look...

 The SPY triangle yesterday and it just started to break out, the NFP report this morning sent futures soaring and there's the breakout we were looking for early today! More amazing though then our prediction coming true are the futures overnight...


 From the ES closing level of 4 pm yesterday, futures barely moved at all away from the area of the triangle, futures always move a lot more than this overnight, I said they wouldn't stay frozen, but they nearly did!

 The QQQ Triangle from yesterday and this morning's NFP pre-market breakout...

NASDAQ Futures also stayed in almost a flat, straight line ALL NIGHT! That is until the premarket NFP employment beat which I had already said was likely to be an upside catalyst.

Now we have to watch carefully for the last component of the theory, deterioration and a possible sharp move down, maybe today, maybe Monday. As always we'll let the market tell us the story, but so far the theory since Tuesday afternoon has happened nearly word for word and amazingly with the futures nearly frozen last night!