Index Futures Set to Come Down This A.m., Will They Finally Stay Down?

Before the charts can even be captured the (as I was working on the NFP post) the Index futures were showing negative intraday divergences, usually we don't move around too much until 2 pm on an options expiration pin (the market is being pinned because of weeklies  too now). It's the 5 min charts that suggest the market stays down or rather at least makes that move lower.

As with most Fridays, options contracts are for the most part cleaned up by about 2:30 which means the need for a market pin is longer relevant and we often see market movement after 2:30-ish, however last Friday was one of the most uncharacteristically busy days we had, just about every position closed last Friday I was glad for come Tuesday and just about every position opened I was glad for by this Tuesday.

The market data should come in as 3C catches up around 10 to 10:30, for now the Index futures and then the NFP post.


Thus far, this is EXACTLY the direction 3C was pointing to yesterday as was evident in the EOD market direction post from yesterday which we use toward the end of the market day , 3C telling us the most likely direction during regular market hours the next day.

"I probably don't have to say it, but directionally we may have volatility based on the NFP, but chart wise, it's down at least to the lower end of the range."

NASDAQ 1 min futures going negative right in to the open.

NASDAQ 5 min futures suggesting that the move to the lower end of the range will stick.

A shrp reversal in 3C with Russell 2000 futures, it's as if the regular hours market cycle was planned out to start right at 9:30, which is usually the case.