Middle of the night futures

Europe opens in about 45 mins, right now it seems the futures are looking a little rich and ready for a pullback, that may happen by the European open. I'll show you the short term intraday or intra-night futures and the longer term positive divergence that has built up.

 ES 1 min since the 4 pm NY close, there's a large negative divergence in place.

 ES 30 min, the bigger picture has a large positive divergence in place, it looks like we will see some nice upside, but before that and perhaps in to the open, a pullback looks likely.

The NASDAQ futures are exactly the same.

 1 min NQ futures since the 4 pm NY close.

And the positive divergence of the 30 min chart, the bigger picture.

I still expect a strong move to the upside, but as I said, near term we look a bit frothy.