Index Futures Update

The 5 min charts for the major averages ES (SPX Futures), ND (NASDAQ 100 Futures) and TF (Russell 2000 futures) are all in line with the downtrend. While I use the 1 min chart, it's typically the 5 min chart where anything of substances is going to show up.

So since those are all in line, there's not much to see. Here are the other timeframes.

 ES 15 min

NQ 30 min

TF 60 min, remember the areas I was mentioning in which , above them it's almost all pure distribution? This is an example of that.

As far as that Bollinger Band Squeeze in the spot VIX, I've never seen the actual VIX futures with such a large leading positive divegrence and never on a 4 hour chart so if you ask me if I had to be my life on which way the directional move from the BB squeeze goes, this chart is my answer.

However, as I frequently remind, there's a difference between the probabilities and a high probability position with a great entry, low risk and good timing.

I'm not there yet with the VXX, I'm still just making sure we're not on the other side of a trap.

In any case, shorts are working so let them work, the next opportunity won't be far and just like yesterday, when you see it, you know it.