Quick Market Update

As for the averages which are 10-12 hours behind the futures (even though the futures see much lower volume overnight) they are seeing positive divergences in similar timeframes as the futures, not so much in the intraday 1 min that calls intraday moves pretty well, but building in 3, 5 and 10 min timeframes and some 15 min in very small divergences (only some averages), but that is along the lines of the positives building shown earlier this morning before the open  in the futures, basically the 5 and 15 min timeframes so the initial thoughts about early down side today with building positives in to that downside for a "dead cat" kind of move, with the longer charts still horribly negative (leading to a bad downside move) is still on.

Or, exactly as I put it in the pre-market update.

This means, take some profits on shorts/Puts in early selling, at some point we can ride the bounce long and then ...

ES 60 min VERY negative, we want to sell in to price strength or short.

Sell in to price strength for what should be the big move.

Example in ES and NQ as they are building a little different, but the same concept, with the concept over each timeframe...

This means, take some profits on shorts/Puts in early selling,

 ES 1 min

 at some point we can ride the bounce long and then ...

 ES 5 min

Sell in to price strength for what should be the big move.

 ES 60 min

This means, take some profits on shorts/Puts in early selling,

 NQ 1 min

 at some point we can ride the bounce long and then ...

 NQ 15 min

Sell in to price strength for what should be the big move.

NQ 60 min


I hope that makes sense, it should be the intraday averages' 3C charts that give us timing for stage 2 and 3, we have already seen stage 1

Stage 1:
"This means, take some profits on shorts/Puts in early selling"

Stage 2:
"at some point we can ride the bounce long and then ..."

Stage 3:

"Sell in to price strength for what should be the big move."