Index Futures Update as the "Normal" 2 P.M. Op-Ex Max Pain Pin is "Usually" Released

By now we all know about the "Max pain options expiration pin", which 90% of the time opens on Friday near Thursday's close or right at it. Then for the next 4.5 hours the market stays in that range until about 2 pm or 3 pm when the pin is released as most brokerages have pestered you to death about any options that are in the money and try to get you to clear them out as early as possible.

Then the market tends to do whatever it wants price wise for the last 2 hours, but the 3C data is often divergent and is some of the most important data of the week, often allowing us to make very accurate forecasts for the week ahead.

As the QQQ has completely retraced all of the PBoC gap up, the SPX is only 4 points off/SPY $.40  cents, The IWM a mere $.19 cents from doing so and the Dow 30 a ,ere 2 points from doing so, this is what intraday Index futures look like.

There are many more futures charts that need to be posted, this is just intraday

Intraday bounce likely...

 ES distribution in to Cash open and decline with a positive divergence at recent lows. This is intraday only and subject to fast changes.

TF/ Russell 2000 futures remain in line to the downside

NQ/NASDAQ 100 futures see distribution in to the cash open and a decline with a small positive divegrence now.

One thing that makes me feel a bounce is probable intraday and this is not to be construed beyond intraday, is the 30 year Treasury futures with a negative divergence in to their climb, remember if they head down intraday, yields move up and yields, just like the uptrend in which they were lower, attract the market toward them so a downside bond reversal sends yields higher intraday attracting the averages toward them.

Again, there's much more to this story, but for intraday FADE TRADERS, this is important information.