Very Early Opening Indications...

It seems the same pre-market vs opening movement in the EUR/USD has not only put an early lid on oil, but has also played a supporting role in what looks to be non-confirmation in the market averages early on. I wouldn't read too much in to this as early a.m. action is full of volatility to run orders and stops, especially on a Monday morning, but taken with some of the more recent damage done last week, it's also not a great sign for the market.

 The EUR/USD was a bit stronger just before the 9:30 open in the US market, just after it was a bit weaker with the $USD moving in to the unchanged and then slightly green area.

 It looks like the early SPY 3C signal was not going to confirm anyway as that was the last posture of ES in pre-market as well.

 Last week, as mentioned last night, some wider recent damage was done to the market as can be seen in the continuing move in the 5 min leading negative SPY divergence, but more importantly...

 A sharp move in the near term 15 min chart shows that this was real damage.

 Here's the DIA's 1 min open which looked set to confirm with a late Friday positive divergence.

 The IWM on the other hand saw no positives late Friday even on the shortest 1 min timeframe and has not seen confirmation of this morning's price action as of yet.

 The Q's also are not seeing early confirmation.

This is much too early to make any assumptions about a sustainable trend, it's just interesting given the overnight action was so seemingly purposefully flat.