The Rest of Futures-Table

Beyond the intraday/overnight futures of the pre-market post, I thought I'd update the rest of the futures so you have a better idea of what the big picture looks like, seeing only 1 timeframe and a short one at that hardly gives you a feel for the market, what is ACTUALLY going on because market underlying flows occur over weeks and months, not a day or intraday, especially at the most important junctures. One of the easiest ways to tell we are coming to an important area in the market is simply the size, length and intensity of a divergence, shorter divergences are smaller flows of money, larger ones are larger flows, we can't forget that one of our edges over Wall St. is the ability to quickly get in and out, whereas it can take them days, weeks, months and even years. When Home Builders were being accumulated during the 2000 Tech meltdown (which was VERY strange to see (after the Tech Revolution, who would have thought the next bull market would be led by HOUSING!?!?!), that accumulation period lasted at least a year and a half, but there were 2500%-5000% moves from there too.

In any case, just for broader perspective to see what's in front of us...

Single Currency Futures:

Yen: 5 min: Negative; the rest of the timeframes between 5 min and 60 min are in line for now, but the 4 hour has a huge, very pronounced Leading Positive divergence, this is a potential REAL market mover and I can't see how it will be good, in fact this is why I spent 10 hours writing the 2 articles about it, "Currency Crisis".

The 4 hour Yen Leading Positive Divergence, this is a base.

Euro: 5 min is Leading Negative overall with a relative positive within that this morning; the Euro is negative to different degrees from 15 min to 4 hour charts.

USD: 5 min is Leading Positive; also the 15 min, 30 min, 60 min, 4 hour and daily are all positive as well, suggesting the $USD is in the pullback phase that is nearly over on the right side of a completed large "W" base, getting ready to send the $USD higher-a market negative to be sure.

$USD 30 min showing the pullback from the top of the right side of a "W" base, getting ready to end that pullback. The "W" base is huge, stretching from last July to present.


AUD: 5 min is mostly in line with a slight 5 min positive which is likely from today's action. The 15 and 30 min are negative suggesting the market is not far from that downside move while the 60 min falls back in line, depicting the unsettled state of the $AUD due to uncertainty with regard to whether the RBA cuts rates at least once at the next meeting and possibly twice, but there's also the possibility of no rate cut such as the last meeting, leaving rates at 3.25%


FX (Currency) Pairs:

EUR/USD: 5 min is negative-this is part of why I suspect the downside set up is here and the reversal is not far away. Usually the market doesn't do much before an F_O_M_C announcement (Wednesday), we also have a fairly uncertain ECB policy announcement out of Europe this Thursday following the F_E_D.  With pairs the 3C divergences are almost impossible beyond 5 min charts.

EUR/JPY:  This carry pair is in line on the 5 min chart

USD/JPY: In fact all of the carry pairs including the next one are all in line on the 5 min chart

AUD/JPY:  In line


Market Index Futures

ES (SPX E-mini Futures): 5 min negative; the 15, 30 and 60 min are also negative-again implying the downside is close and significant.

ES-60 min leading negative


NQ (NDX E-mini Futures): 5 min is inline (keep in mind that in the market averages -not futures, I use 3 different versions for the averages so the 1 version for futures will read a bit differently as the SPX trades much different than the R2K) 15 min is Negative, the 30-60 min are in line right now-however these will change as the shorter term charts change. The 4 hour and 1 day are negative, again speaking to the intensity of the outflow of funds.

NQ 1-day Leading negative

TF (Russell 2000 E-mini Futures): 5 min is negative; here, the 15, 30, 60 min, 4 hour and daily are all negative as well. The Russell 2000 often leads the market.

TF 15 min leading negative


Precious Metals:

Gold: 1-5 min in line; 15, 30, 60 and 4 hour are all negative, suggesting a primary bear market has emerged and will continue.

The leading negative divergence in Gold futures right now suggest this is a counter trend/ Bear market rally which will soon come to an end and start the next leg lower in a Primary or Bear market trend.

Silver: 1-5 min are in line; 15 min is negative, but it stops there and diverges from Gold's path. At 30 min it is in line, then 60 min it's positive, you can see the actual transition. The 4 hour and daily charts are also positive, interesting divergence between gold and silver longer term.

Long term 4 hour silver futures have been either negative or in line on the down trend, but now we have a positive on the 4 hour and daily, the positives on charts like 60 min are much sharper.