Starting the week - Pre-Market

We're halfway through, but we are finally starting. I hope all of our friends in the North East are safe and comfortable in their homes, I've been through about 9 of these storms here in S. Florida and there are so many things that effect day to day life you never imagined, all of our best to all of you.

As the overnight session began last night and until I went to bed pretty late, there wasn't much to report, ES was pretty flat in a tight approx. 2 point range.

You know what my opinion was from my post yesterday afternoon.

As a matter of fact, we didn't get much movement in ES until the European open at 3 a.m. EDT.

Despite  the September European unemployment rate hitting a new record high overnight at 11.6%, Consumer Inflation staying high, French Producer Prices (margin squeeze) moving higher up, Spanish Housing permits seeing a 37% decline from July to August, the Greek 2013 economic outlook coming in worse than expected bringing Greece to  189.1% debt to GDP for 2013; it didn't matter that Japan cut their economic outlook as PMI (manufacturing) came in at 46.9-the lowest since 2009 and in contraction, it didn't matter that Taiwan cut 2012 GCP forecasts by nearly a third, and we could actually go on and on, IT DIDN'T MATTER.

JUST BEFOR THE EUROPEAN MARKETS WERE TO OPEN...

A Nice positive divergence in 3C on ES lifting ES over 10 points in the overnight session, we're a bit shy of that now, but still at a healthy move up.

Should this hold through the day, I think yesterday's post about cycles being set up and run as well as the FX divergences might be worth raeding again.