I'll get to the weekend events and more so the events of this week, many of which are obvious, in the next post. For now we'll just take a look at the charts.
Last night I watched ES for quite a while and had a feeling we'd have a flat overnight session (it's about 3 points off Friday's 4 p.m. close). This again is holding up rather well considering the EUR/USD which is not holding as well and would imply a much lower area for ES now based on the last few weeks of correlation.
Here's the EUR/USD since the FX markets opened this week, the EUR has broke below $1.28
ES gapped down on the open for this week and in overnight trade chopped sideways, it's about 3 points lower than Friday's 4 p.m. close, it looks like 3C is in better shape, but not in a full-on positive divergence which I suppose makes some sense in front of all the wildcard events of this week just until Wednesday.
That puts the SPY right now )pre-market) right about smack-dab in the middle of the week long range it carved out last week.
More coming....
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