Pre-Market

Good morning.

All of those ranges / resistance I talked about last night are going to be broken on the open as the futures ramped up overnight on an ER/USD 100 pip tally just after the European markets opened, this is actually good, it needs to happen as I mentioned last night as being part of the process.

 EUR/USD, the green arrow is the European open, note the 100 pip rally. Interesting.

 ES had a positive divergence around midnight EDT and it looks like that has seen some selling in to the move thus far.

NASDAQ Futures saw the same positive divergence around the same time, although they only have a minor negative divergence right now, again I think AAPL is to blame or credit.

So finally we are getting some movement, this is what I was talking about last night, please review the post if you haven't already.

Obviously the 3C charts above the range will be crucial, but I'm pretty sure I know where they are going, it's just timing which i suspect may turn quickly. Credit is the other main indicator we want to keep an eye on, hopefully it diverges to the downside.