Pre-Market Futures

It looks like we were right to hold still on Friday and await Monday for better opportunities and it looks like we were right on the near term (today) direction of the market, despite the pre-market futures, we have EXCELLENT signals confirming our expectations for today.

The Index Futures...

 ES (SPX Futures) ran higher at 2 a.m., the same time the EUR/USD did, to the left is the Friday 4 p.m. closing level, we're not too far above that, but we have a nice negative divergence going in to regular hours trade.

NQ (NASDAQ 100 futures) showed an earlier positive divergence last night, we have in line trade at the green arrow and a negative divergence in to the open of regular hours as expected.

TF (Russell 2000 futures) saw a positive divergence at midnight and in premarket have a huge leading negative divergence.

Currency Futures...

 The EUR/USD headed north at 2 a.m. this morning, however the negative divergence started last night is 4 times as large going in to regular hours, the implications are not good for the market and therefore confirm our Index signals above, at least short term (where we may find some nice opportunities).

 Even the EUR/USD 5 min chart is in a negative divergence-green arrow represents the open of FX trade for the new week .

The single currency Euro futures have an enormous leading negative divergence, it's little wonder the EUR/USD looks so bad. I think FXE short might even be a trade worth looking in to if you can day trade.

 EUR/JPY carry pair saw no positive divergence last night, they just followed the Euro and Yen, here we also have a huge leading negative pre-market divergence (again not good for the market).

And as seen last night, the $USDX ($US Dollar Index futures) have an enormous leading positive divergence, confirming the EUR/USD signals and being bad for all risk assets, the market included-EVERY chart confirms each other.

As for Gold and Silver, interesting too and just as we expected late last week when we took our 1-day 93% and 95% profits in GLD and SLV calls...MORE OPPORTUNITY at the right time!

 GOLD futures 1 min with a leading negative divergence in to the open

Even more ominous, gold's 5 min chart with a deep leading negative divergence as seen last week.

Silver futures have the same leading negative divergence. I think any of these can be played intraday, but we are really looking for the set up as 3C tells us when we have arrived at a bottom (which may be today) for short term option trades or leveraged ETFs.