Here's a quick look at Index futures. While the USD/JPY does not have 3C support off this morning's parabolic move higher, the Yen is not yet positively divegrence on the 1 min chart and the $USD is not negatively divergent, at least not on the 1 min chart.
As for the Index futures, they don't have very good support as we knew they wouldn't yesterday with no positive divergences longer than the 1 min chart.
USD/JPY ramp on a stronger dollar
coming from a weaker Euro after the Draghi news.
So EUR/USD drops, the dollar gains and USD/JPY pops. This is outside our analysis yesterday as the catalyst here was not between the Ye and $USD, but actually the Euro weakness/$USD strength.
So now we have a 3rd currency to watch.
ES is in line on the 1 min chart, about what I'd expect giving the gain and the divegrence set up from yesterday or lack of it.
NQ as you might recall yesterday had the best looking 3C chart, still a short term positive divegrence, but better looking than the SPY or IWM as far as a solid divegrence.
TF/R2K futures seeing a leading negative divegrence on the parabolic move, this is interesting given our target for the IWM for the next stage and move in the market.
So far, pretty much the move we expected yesterday and the lack of strength to support it very long.
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