Pre-Market Futures

Good morning.

Here's what ES futures did last night in to the present...

 (*This chart is rolled back to yesterday) Last night after hours a 1 min positive divergence popped up in the futures taking them off the lows and up about 5 points, like I said last night, I don't know if it was the start of a bigger move, if it was op-ex related, if it was nothing or even if it was simply support to keep the market from plunging even further, the New York F_E_D has an active trading desk and they do step in the market at strategic points when they feel it necessary so it could have been the F_E_D lending the market support to keep the market from turning in to a Black Swan, who knows?

What we do know is it started going negative around 3 a.m. EDT when the European markets open.

 Here's the chart rolled forward to the present, the green arrow is the European open, by then 3C was negative and the 5 point gain started to erase, we have a small positive divergence off the lows this morning pre-market.

I'll be watching the SPY March $155 puts in case I want to close them early on the gap down, I'll let you know first...


 Here's the 5 min chart, the signal is to the left, I haven't decided whether to close them (puts) or not because 3C is in line with price, but no longer a divergent signal.

NQ-NASDAQ Futures

 These went negative at the European open as well and are in line, I'll probably leave the April QQQ $68 puts alone unless I see something that looks imperative to take profits on the gap down.

The 5 min chart here doesn't look as good as the ES chart, but it is still in line

As far as GLD goes, our April long Calls should enjoy the gap up.