Sunday, March 24, 2013

Futures Frothy

My next post will cover the market in more detail, for now remember my last impression of the market for Monday, a thin shiny veneer with rot below that or a "Ginger Bread House"

 ES futures open this week's trade with a gap down, running the sops and moves higher in to a deep 3C leading negative divergence

By contrast, gold futures opened lower and have a leading positive 3C divergence.
 NASDAQ futures also did the same as ES, also have a leading negative 3C divergence.

The EUR/USD which obviously opened higher also has the expected negative divergence.

I think it will be a long, interesting night.

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