FUTURES ARE PUTTING IN AN INTERESTING DIVERGENCE

I'll be doing the daily wrap a bit late tonight as I have a board meeting to attend.

Today's F_E_D or rather F_O_M_C policy statement and Bernie's "presser" after had a lot to say, but when I posted the following in this post, "OK... That's Positive For the Market" ...

"I haven't heard it all, but that is enough to give us the rally to the upside expected.

I'll be watching the volatility and looking for an entry."

There was one thing said that has been missing from F_E_D and F_O_M_C statements since just about every statement since September 13, 2012 when QE was announced. 

This is something we have talked about a lot, it is part of the reason I have suspected that the F_E_D was looking for a way out, ironically as they launched QE3.

This is central, does anyone have the answer or willing to take a shot at the answer? I believe this comment alone is enough to give us the second tradable trend, the upside trend we are already in as we have crossed above the apex of the massive bear trap's triangle.

Here are the Index Futures so far tonight and it's still very early.

 ES 1 min, I didn't annote the chart because I didn't want to draw over the divergence, it should be plain to see and exactly where we want to see it.

 NQ 1 min as well

And TF is leading positive (like the others) to a new intraday high.

I'm not going to get too worked up over this as it is still early, but it is a significant divergence and already moving to 5 min charts.

I'll have much more for you later, perhaps an update of futures.

Today's lesson as with any F_E_D event is, "Beware the knee-jerk reaction, it's almost ALWAYS wrong".

I'll see you in a bit.