Futures Market Update

Especially considering the VIX move, these charts are very informative and good news for our analysis.

Here are the SPX and NASDAQ E-mini Futures (ES and NQ respectively).

 ES 1 min-Not only are we seeing the second day of a very rare anamoly in the Futures / 3C charts that have only been seen a couple of times and have been very successful in calling both tops and bottoms, the "Persistent negative divergence", we also see a new low on a leading negative divergence at the intraday price move that occurred as an inverted or reverse correlation to the VIX drop. This not only makes me feel better about being long VXX and at this depressed level, it also makes me feel confident about our analysis and the timing of it and the bearish nature of underlying trade.

Recently the NASDAQ Futures have been stronger as the QQQ has been as well, I suspect because the average was the furthest away from the resistance zone all of the other averages broke above and needed more support in trying to accomplish that goal. Again we see a persistent negative divergence and a new leading negative divergence in to the VIX correlated move to the upside.