In last night's "Market Wrap" I posted two charts of the SPX and NASDAQ futures as of approximately 8 p.m., they looked like this with the following commentary...
"Strangely we have some interesting activity tonight in the S&P and NASDAQ futures, when I see it I think back to my gut feeling since day 1 that trend 1 (the move up) reverses very fast, intraday most likely whereas reversals are normally a process, I have felt strongly this would be an event and a volatile one, so I don't know what the end looks like until we see the underlying signals, but the futures tonight are interesting in that context."
ES futures last night...
NQ Futures last night....
Moving forward to just before the open, we see that the divergence I reported last night as price was down, but 3C showing buying activity in an easily manipulated area and positive divergences DID IN FACT RAMP AS 3C PREDICTED, BUT WHY? I have my suspicions.
Just as interesting is how negative the 3C charts are now...
ES Futures pre-market after ramping around midnight.
NASDAQ Futures...
They also ramped around midnight and stalled with a leading negative divergence.
We'll look at some of the overnight developments, but NONE HAD ANYTHING TO DO WITH THIS RAMP WHICH STARTED LONG BEFORE ANY MAJOR MARKETS THAT WOULD INFLUENCE THE FUTURES WE OPEN AND LONG BEFORE ANY EUROPEAN DATA WAS RELEASED.
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