Futures Update (There are some differences of course between the equity indices and the futures, for 1 they are a slightly different version of 3C for futures and they are more tailored for each asset in the equities and futures trade all day/night).
In any case, the futures divergences that we saw last night moved fairly quickly (the time from the 3C divergence to the time price moves), I'd say the divergences are moving (just the divergences) very fast right now. They are not all where I'd like to see them, but this was the target area in which I wanted to see positive divergences build so there's nothing wrong.
ES (SPX) 1 min intraday are showing a positive divergence, this should get quite a bit bigger I'd think.
Longer term ES 15 min (for futures this is actually a more powerful signal than a 15 min equity divergence in most cases), we have a large divergence at the second bottom of the "W" as I'd hope to see.
NQ 1 min also building an intraday.
The 5 min shows a smaller positive at the first low of the "W" and a stronger divergence at the second low, this is perfectly normal behavior and what I'd expect to see.
TF 1 min intraday is starting to build, this is one in which the IWM looks much better than the future for the IWM.
The $USDX (US Dollar Index) starting to go negative fairly fast on a 5 min chart. A move down in the $USd is supportive of equities and risk assets.
The 5 min Euro chart, positive at the first bottom and a stronger positive at the second as expected, a move up in the Euro and therefore between the two currencies, the EUR/USD) is supportive of the market and risk assets.
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