In Globex so far. High volalitet keeps running and gives tendemous movements.
24 hours ago we saw something which indeed smels life flashcrash since it didn´t even close or stop for US official closing as chart shows but went far, far much further with SPX futures during the asian market session.
Very late, just before hour or two before euromarkets opening it finally stopped it deep plunge. At that time 1 &5 & 15 minutes charts offered bullish divergence while hourly was at extremes and daily, weekly and monthly looked alike still trend bearish.
I managed to call that bottom before euromarket opening and european first exchanges bought that immediately for very sufficent rally. While I don´t bother too much about daily internal volatility it usually leaves the option for me to see how German and Mid-Europe future market participants posisions for overnight and for US session, particulary for over FED even Bernanke even he didn´t deliver much, only to keep interest rates low for mid 2013 and warning about economy easing. His earlier statements and views was sold allready so many times during the last months many times while he has been wrong with GDP that market damage was done allready, for now.
US market have behaviour to follow how DAX and CAC futures (mid-europe) positioned for it during the afternoon in Europe.
The rally was seen well in Europe that market bottom is in, at least for now. The rest of the shake and re-tests are only consolidation movements in US hours of the bottom since MACD allready was in bullish territory. See the divergences.
Amazing, DAX up +500 points from bottom so far is 500 points.
12:th of july was W1, while todays leg was x5 by size for it, more than likely some big W3 impulse finished.
I am expecting this market to easy a bit for the rest of the week or tomorrow at least to consolidate sideways and correct recent selling for upside, use MACD for instance for all timeframes but hourly and 4H charts will need yet later more significant divergences also before any longer lasting upside correction would be placed. Note that so far there was none yet, this came alone from 15 min chart as largest one while monthly, weekly and daily are real tsunami sets without any technical bottom building. This might mean lower low for hourly chart somewhere later in the future before even more larger upside correction will occure and for hourly chart things does not happen so quickly.
At this moment I do not see anything extraordinary interesting with Index for Asian market.
