Scott Pluschau is a Contributing Editor to the ETF Digest.
First, let me just say that I do not rely on technical indicators to make trading decisions. All my trades are based on Auction Market Principles. The futures markets trade in an auction and price is determined by supply and demand. However, I do like to glance at volume indicators.
This is the most glaring bearish negative divergence in comparison to the price action in a futures contract I have seen since I can remember. Divergence is when an asset and an indicator are moving in opposite directions. It is a lack of confirmation.