Futures Update

As Index Futures re-opened for trade, they opened to a 1 min negative divergence in place on all 3 majors, of course this doesn't say much as it's a very long night and a lot can happen, there's no damage at all to the 5 min charts.

 ES 1 min as trade re-opened

NQ 1 min 3C negative as trade reopened.

And TF...

This shouldn't be much of a surprise at least on a short term basis given the component futures of the USD/JPY which is the driver of risk these days, note the pair pulled back a little around the same time as the Index futures even though there's a new leading high. I believe we'll see the pair drop somewhat overnight, here's why..

The Yen futures alone have a 1 min positive divergence, if they follow it up as they should that will push the USD/JPY and futures down.

The $USD 1 min was negative earlier and price has just followed through on the earlier negative divergence so both individual currency futures point to the pair coming down overnight and risk with it. I will be interested to see how the Nikkei trades after that spanking last night, really the last several weeks.

During market hours there were signals too...

 The QQQ 1 min negative near the EOD and remember the post about taking some profits in the VXX put position?

Even though the larger picture in VXX is a leading negative divergence which is the strongest, the intraday is showing a positive divergence and as VIX futures trade opposite the market, it only makes sense.