QUICK FUTURES UPDATE

USD/JPY looks like it's ready to fall off its perch. The Yen intraday has regained a strong positive divergence and the $USDX a negative.

All intraday Index futures (5 min and other longer timeframes) are negative too. VIX futures as seen before are positive.

I don't need to draw on this SPX futures chart / ES

Market averages are in line as well, the IWM especially.

I prefer not having 3 Index ETFs as the bulk of a trading position and I won't add SRTY, for that reason and because I don't think it's the best of the choices..

I'm not that fond of FAZ either, a few of you have been asking and it just doesn't look nearly as good as something like SQQQ. If you do look at FAZ (long), watch out for GS's parabolic move, I wouldn't enter FAZ long until that was clearly coming down.

Perhaps later tonight I can get some GS charts in, they are in line with the 30 min positives as the multiple trend scenarios were discussed last night, GS would seem to confirm that line of thought.

I'd also keep an eye on the NYSE 1 min TICK, it has broken the intraday uptrend channel, although it's still loitering around the 0-+1000 mark.