Futures

Asian Liquidation on Chinese banking collapse fears? It sounds that way, but the futures are all I'm concerned with at the moment.

Last night within 5 minutes of each other (same time as China opening), Japanese stocks and gold both fell at the same time, right around 11 p.m. EDT, while Japanese futures didn't look very good as of the time I published the Daily Wrap last night, gold wasn't showing anything that looked like a drop was coming, Silver did have a small negative divegrence going in to the 11 p.m. hour. Both Silver and Gold went positive around the 5:30 a.m. lows

 Silver Futures 1 min negative divergence in to 11 pm last night

Silver Futures 5 min positive in to this mornings lows.

Gold's 5 min positive in to this morning's lows.

ES has a 1 min negative, I'm not concerned about this, volatility in the a.m. is the norm, the 5 min chart is pretty good back up...

ES 5 min and take a look at this..

You might remember ES being positive with the other Index futures through 30 and 60 min, the 15 min looks like our move has started.

ES 15 min-looking good.

I'll have more in a moment.