[ant]

Hi James,

I don't try to determine if one index is leading another. Basically, the index divergence is indicating a decrease in momentum in the direction the market is moving. The index divergence I pointed out is simply suggesting that the market is not as weak as the YM was indicating in the short-term. Since the market is also near a key S/R level, one might expect the market might bounce off of it and trade in the opposite direction. I use an index divergence the same way I would a divergence based on weak market internals. If I trade the ES, I am not looking at the YM for any predictive value, or vice versa. Hope this makes sense.

Antonio