European markets have been rangebound and in a consolidation today, you can see via the futures with closing action from Friday at the far left, futures gave up some ground before the European open, in some cases a positive divergence (white arrow) was seen going inn to the European open (green arrow), this still wasn't enough to lift futures to the unchanged mark from Friday's 4 p.m. closing prices (all closing prices are as of 4 p.m. EDT, Friday)
ES is still a few points below Friday's close, there was a positive divergence in to an overnight double bottom, the second of which was at the European open. European markets are said to be rotating out of equities and in to fixed income today with the peripheral markets underperforming the core markets.
NQ (NASDAQ mini-size Futures)-Again a positive divergence at the 3 a.m. EDT European open and a current positive divergence now.
Light Sweet Crude Oil drifted slightly lower overnight, tight now it's seeing a quick move higher to the $99.21 level on a fast change in the EUR/USD.
Gold Futures initially opened higher and lost ground from last Friday's close, now they are about $.20 below break-even with a positive divergence right now.
The EUR/USD since FX markets opened last night, rather flat.
There is this recent move higher in the Euro.
There's no major economic data and volume is expected to be light with the Rosh Hashanah holiday.
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