In essence, what needed to happen in currencies to help the market happened, even if the news would have otherwise prevented it and our charts/update from last night predicted it.
First the currencies
AUD 15 min went positive at 4:30 p.m. yesterday and went higher all night.
AUD 1 min the 1 min shows an intraday negative divergence going in to the open
Euro 1 min went positive at 10 pm last night, went negative at 2:30 a.m. and 3:30 a.m. and positive again at 5 a.m. and just went negative in premarket.
USD 15 min fell all night from a negative divergence at 5 a.m.
USD 1 min is going positive in to pre-market
Yen 15 min went negative and fell all morning at 4:30 a.m.
Equity Index Futures
ES 15 min went positive just before midnight and at 5 a.m. and lifted from there
ES 5 min had a smaller negative at 3:30 a.m.
ES 1 min and is going intraday negative in to pre-market
NQ 5 min went negative around midnight and 3 a.m. and positive at 5 a, and lifted from there.
NQ 1 min is going intraday negative in to premarket
TF 1 min went negative at 1 a.m. and 3 a.m. and positive at 5 a.m, and lifted
Gold 5 min worked on a positive divergence most of yesterday, it finally turned up about 10:30 last night and lifted all night, it's going negative intraday in to pre-market.
Silver 5 min worked on a positive divergence most of yesterday and went positive in price around 10:30 pm and lifter most of the morning and is going intraday negative in to the open.
Basically everything that needed to happen on a bigger scale to support the market, the Yen and $USD fall and Euro and $AUD rise , all happened.
Equity Index futures took advantage and did the same at virtually the EXACT same times. 5a.m. figures very prominently.
The fall in $USD helped Gold and Silver overnight.
The premarket negative divergences in risk assets including precious metals and Equity Index futures, may be nothing, but it may lead to the pullback/consolidation that I said I'd like to see yesterday for a healthier move.
Just remember the correlations, falling Yen and $USD helps the market as well as a rising Euro and AUD.
Falling $USD helps Gold and Silver and vice-versa for all mentioned above.
It worked perfectly!
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