Futures Update

Today is full of surprises, why shouldn't futures be any different.

3C on the futures chart is a stronger indication, I'd say a 5 min 3C chart on Futures is closer to a 15 min on the market averages.

Here are the S&P (ES) and NASDAQ (NQ) updated charts as of just a few minutes ago.

ES 1 min

 There's not much to say about this chart, it moved as it should for an intraday chart.

ES 5 min

 This chart as mentioned before, is much larger in duration and intensity than the February weekly option trades that were so successful. In fact I put together the weekly option trades for the month of February and here's how they came out.

NQ 1 min

 This chart acted as it should for a 1 min intraday, nothing that important here

NQ 5 min

 Again, this is a negative divergence that is huge in intensity and duration

We don't usually see too much movement and rarely look at these timeframes, but there's been some significant movement, I suspect it is because the 5 min 3C divergences have been so strong and long.
ES 15 min

 Deep Leading negative divergence

NQ 15 min

 Leading negative divergence

ES 60 mins!

 This is an extremely deep (low) leading negative divergence on a very long term chart for futures, I suspect there has been so much underlying movement and so strong that it is showing up on these long charts.

NQ 60 min

 This isn't just a leading negative divergence on a 60 min chart, but nearly all of it was completed today alone. This fits very well with the reasons I expected Wall St. to take the Dow up to Headline highs, this brings in retail and when they have demand, what do they do with it, especially at good prices? The answer can be found in the market cliche, "Buy low, sell high".

This is the ES 1 min / 1-day VWAP

At 11:33 this morning in the post, "Game Plan" I posted this chart and comment...

"ES's daily VWAP, I would say we are headed at least to VWAP, maybe up to the top channel, the higher we can get in, the better, this is the same concept used with yesterday's QQQ puts, enter on momentum to the upside before it fails, that's what gave the 40+% profit."


 In the post "We should have our reversal any time now" at 12:24 today I said,

"ES 1 min intraday is positive, it looks like we should get a decent upside move, I'd guess above VWAP, the more convincing it is, the better it works."

 As you can see, ES broke above VWAP and nearly touched the upper standard deviation of VWAP.

NQ 1 min/1-day VWAP

NQ also broke up through VWAP.

There were a lot of interesting this today, I didn't expect to find these charts though.

More updates coming...