Early Futures Indications

What's interesting is that other than the volatility this morning that is "supposedly" caused by an escalation in Ukraine, we are starting to get what appear to be the signals "that we are looking for" for the "move lower that we are looking for".

For example...
Here are the 1 min charts of action this morning, it looks clear that there was some early distribution in to the highs in most of the Index futures, in other words, either profit taking or someone knew something, likely both.

 ES 1 min is pretty much in line...

NQ 1 min (NASDAQ 100 futures) were showing distribution in to pre-market highs, seemingly not hugely substantial, but definitely there.

TF / Russell 2000 futures on their own look like a pure, outright leak or market maneuver to fleece the after hours sheep that chased Facebook and to a lesser degree, AAPL. Facebook lost all of its gains early in regular hours and is trading at a minor gain right now.

Gold lost quite a bit in very early a.m. action, but there's a clear 1 min positive divegrence, again as if there was a planned market maneuver that has sent gold right back up.


Here's where it gets interesting...

While the NDX and R2K pivot high targets still seem reasonable before we get the move lower we are looking for (the one in which I would load up the truck), the 5 min charts are showing a clear leading negative divegrence in several of the futures that was not inspired by the 1 min charts early this morning,m this was through the entire overnight session.

 For instance, this is ES 5 min with a leading negative divegrence, these are the kinds of signals I was talking about yesterday that we need to be patient with.

 This is /NQ the NASDAQ 100 Futures on the same 5 min chart with the same overnight leading negative divegrence.

TF is not quite there yet.

As far as the VIX futures, we've already known that the 15 and 30 min charts have been seeing accumulation with leading positives like the 30 min above...

And this 15 min, but it's the shorter "timing" timeframes that have been lacking and of interest.

This is the 5 min /VX VIX Futures chart leading positive .

The intraday dust is starting to settle, lets see what the opening indications look like.