Quick Futures Update

While I finish capturing the charts for the market update, the futures charts should give you an idea of what near term trade looks like.

 S&P futures are looking worse than earlier in pre-market, which is a good sign, we wanted to see the pop up as I wrote last night, it gets the bulls moving after a long funk, but it seems the underlying trade is moving the opposite direction of price so the bulls are being set up in a trap, exactly what I said last night and just republished this morning. This is exactly what we want to see.

The NASDAQ futures have held up much better, but even they are seeing their first negative divergence since going positive (3C charts)  Tuesday.