You saw a lot of the VIX Futures charts already yesterday and today.
Yesterday we had a very sharp move to the downside (3C distribution) out of no where, it was curious even though the VXX kept running, as I said yesterday, "Something is going on after days of trade I described as "Blah", today that continues to a leading negative divergence.
Today's charts and recent action.
We had a positive divergence and a move up, all is well there, but then 3C and price traded together in confirmation, but VXX wasn't showing any distribution or accumulation, yesterday in the afternoon when it suddenly went leading negative before price had really moved up, it was
a very odd change in character and that's what I look for.
Today as you can see that leading divergence that was a hint is now at a new leading negative low as prices hit new short cycle highs.
The 2 min chart is looking ugly all this morning. We already saw the negative 5-10 min timeframes.
VIX futures were the real giveaway on the 5 min chart, we needed to see 1 min go negative, if the 5 min chart is like the "Firecracker", then the 1 min chart is like the "Fuse".
1 min VIX Futures goes negative intraday.
There's already significant damage to the VIX futures 5 min chart, it just needs that spark.
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