TF-Upfate (Russell 2000 Futures)

Most of this week the Russell and its futures have had by far, the worst looking 3C charts, this was actually the case last week when this week's forecast was made, all of the averages had strong 15 min charts which was the gas in the tank for this week's move, all of which have seen serious deterioration since last Thursday, but the exception was the IWM which had a bad looking 15 min chart last Thursday that now looks horrible.

The negative 1 min Index futures from last night didn't play out the same way this morning which I suppose isn't too surprising given the Friday options expiration max pain pin, but I'd be remiss if I didn't at least post this chart as a potential warning for the IWM.

The 1 min negative divergence in futures last night has held up and continued to develop all night in Russell 2000 futures.

I'll have an update of the Index futures in just a few minutes, the punch line is that we don't have the charts we need yet for a pivot and that's fine as we haven't seen the price move expected quite yet, but the NASDAQ futures are the closest to hitting that downside pivot target in Index futures, although not at the 15 min chart yet.