Thus far the intraday 1 min charts are largely not in confirmation with the market 's gap up, however they are not smoking guns either. There are a few signals that are quite negative in the DIA, but then again there are some decent inline IWM signals so I'm not drawing any conclusions yet.
I believe Gold will be one of the first assets to react to any changes that are taking place in market perception as well as VIX futures and oil.
Below we are seeing some changes in VIX futures, this means traders are reaching for or bidding up protection, point in fact the underlying trade shows they are reaching for it, the bidding up is more based on price movement, but that's the point of 3C, to show us underlying trade before price moves.
I'll cover gold and GDX/Gold miners next.
VIX 1 min futures showing a leading positive divergence, this would likely need to build out and that is done by lateral, "U" or "W" shape price patterns, essentially lateral trade (sideways).
VXX is showing something similar here with a leading positive as is UVXY.
More importantly the 5 min chart of VIX futures is leading positive, this is a
change in character.
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