Quick Futures Update

For the most part, all of the deeply oversold single currency futures look like they'll bounce off positive divergences including: the Euro (market positive usually-but we are getting in to strange times), the AUD and probably the Yen (which is the only market negative of the 3). The $USD looks quite overbought and looks like it will come down as well, what I wonder about is whether this is a move that occurs overnight and is over by the a.m., don't ask me why, just a gut feel.

As for the pairs, the EUR/USD looks like it will gain, although I'll say the divergence there is not very strong, this is more based on the single currency futures.

Interestingly, the carry pair, EUR/JPY looks as if it will head lower (a market negative) and USD/JPY looks to head lower as well as the 3rd carry pair, AUD/JPY. I'm guessing this is more about the Yen moving higher, in any case if all 3 pairs move down, it is a market negative and they look ready to move right now.

ES, NQ and TF are all in bounces, but all have negative divergences. So again for the third time in 24 hours, we have a market that seems like there's something not right, the first two I felt that way about I was correct, this one is even more fractured than the other two. One possible reason for this fracturing is different agendas, some closing carry pairs, some playing oversold bounces, some trying to play correlations that may no longer exist, in other words, The market is splitting which is where it gets very dangerous on the downside.

I'll update any developments, but the changes in character should be palpable to even newer members who aren't use to these charts and assets and changes in character lead to changes in trends.

I'll keep you updated as best I can, again, study the posts, the market, this is an environment that can be very profitable and few know how to trade it because it is so rare to see. I'd really take the time, even if it is just to study and learn.