Opening Indications

It's VERY early to look at 3C opening indications as I like to allow at least 30-45 minutes for charts to catch up, but at least on the 1 min intraday which can confirm a move in the market fairly quickly or at least move in the direction of confirmation, we are getting some interesting signals thus far.

The SPY, DIA and QQQ are not confirming the downside move in the market this morning, the IWM which has seen relatively weaker underlying trade (as it also has made an all time new high and therefore has opened up more demand and the best prices one could ask for) is confirming the move down.

I'd be careful about chasing this, it's early trade over the weekend, early trade is always deceptive as stops and orders are hit.

ES and NQ are in line so far.

Expect upside intraday.