While USD/JPY hasn't lost any ground, the one Index Futures with the largest negative divergence post Greek news on the pop up pre-market was TF/Russell 2000 futures and they easily dragged the Index futures right back down.
ES 1 min with some deterioration
NQ with some deterioration, but nothing compared to TF's divergence that was in place at the moment of the jump...
TF, note the divergence that was in effect almost immediately.
The IWM late day positive divegrence yesterday was shot down on the open.
SPY 1 min is in line.
If you look at the ES chart this morning before the Greek news came out, it almost looks as if there may have been a leak that was front run.
Still, VXX, HYG and TLT should tell the story more thoroughly although they'll need some more time to settle in.
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