ES Parabolic Fail

As noted in the last post, there is no support for the ES parabolic cash open move up, as I said, I think the open below many recent lows of the last 1-3 trading days, created a BTD opportunity, but nothing more as TICK didn't move much above +500, pitiful.

However, here's the actual 3C ES /SPX futures chart I was talking about...

3C is in line or price/3C trend confirmation since Sunday night's open and in to the European open with a negative divegrence pre-US cash open and in to the parabolic pop which got its momentum from the cash open below many recent lows, absolutely no 3C confirmation of the move or support nor breadth via TICK, thus it's not looking very impressive, but helpful for the bigger picture of our larger theory of a failed Santa Rally.