CME_MINI:ES1!   S&P 500 E-mini Futures


Normally the divergence is negative.

Not this week - the RSI is showing there is interest.

Two things to point out.

1) Overnight support at 4485 quickly rejected lower prices.

2) The moment of truth will be the open - we are stuck in some algo driven regression channel . We need to break this to move upward - wait and see which this gets resolved.

Lots of negative news perfect reason to move higher and take shorts money.

If 4485 breaks next support is at 4473 - its a Fib level and initial Balance low. The bigger support will be found at 4436.

This market is not out of control - it may be moving downward - but its very orderly.










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