Today Europe was open, but both the US equity and bond markets were closed. So we have a first look at ES and a current look at EUR/USD.
There's a negative divergence in ES
There was an earlier positive divergence in the Euro that sent it higher, that has run in to a negative divergence.
The negative divergences make some sense as ES is trading higher then the CONTEXT model even though many major markets that are a part of the CONTEXT model won't open until 3.a.m with the European open and 9:30 a.m. on the New York open, especially the bond markets.
The US economic news s pretty light with only the Empire State Manufacturing Survey at 8:30 a.m. , but at 11:30 we have a 3 month and 6 month Treasury auction, both could be telling, although I'd rather see a 4 week auction; one will be announced at 11 a.m.
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