Pre-Market

The cash markets are set for a lower open after the negative divergence mentioned last night drug futures lower until the European open where a mixed bag of news, but most importantly a denial from Greece that their banks need a re-cap (4th bailout) made the rounds. Meanwhile Euro area unemployment hit a new high, there were many other reports, I'm not sure any will be as important as Alcoa earnings and the season upon us as well as the list of F_E_D speakers this week.

 ES sees a more positive tone in to the European open, slightly positive in to the US open.

The NASDAQ has had a pretty negative tone even with the European open.

There looks to be a slight positive divergence in EUR/USD which may help risk assets, they commonly see a volatile move early on the open that is faded or reversed later.