Opening Futures

Once again, despite dropping 6 points in ES futures overnight from the 4 p.m. print, here we are just before the open and back within 0.75 of a point to 4 p.m.'s print, as I said yesterday, this looks like a new concept as long as it is in the accumulation or distribution phase of a cycle.

I'm not so much interested in the news, the overnight German Zew poll or what Credit Suisse is doing with it's "poor" clients, I am more interested in the overnight gains in Treasury futures with negative 3C divergences since they took on the role of "Flight to Safety" asset yesterday, this suggests as we expect, a pop higher.

Both Gold and Silver futures look to be cranking out a base in the area which also fits and fits with gold miners indications.

Crude is also looking ready or close to ready for that move I said I would be interested in being long.

That's what I'm most interested in, or this Russell 2000 Futures 15 min chart.

15 min R2K futures negative at the F_O_M_C with a flag-like, long consolidation, perfectly primed for a pop to the upside as 3C has been positive during most of the pullback, it fits with all of the analysis, just look at last night's recap.