Overnight

After watching the market/futures overnight until about 3 a.m. and double checking some signals with some other indicators which I'll post just to make sure I'm not seeing anything, although an out of the blue fundamental event like Bernie completely contradicting the F_O_M_C  meeting 3 weeks ago seems a little.. well disconnected from the minutes to put it plainly; I did notice the AUD/JPY seems to be a force again in the market.

Some of these captures are from the moment, actually many are.

 At least while I was awake, this is about 2:30, the only significant tick down that seemed out of character I followed around to see where it came from.

It turned out the AUD/JPY was the only asset that had ticked down just before, I'm guessing this was probably around the time the BOJ made their policy statement.

This morning I overlaid the two and while the scaling is a bit difficult...

 This is earlier in the night (AUD/JPY purple) , I know scaling on the right looks off, but hold on...

As the pair made a lower high, ES topped out, they traded very similarly  and the 8:30 Initial Claims coming in worse than expected with what Bernanke said last night clearly would put us back in the "Bad news is good news" regime, ESPECIALLY when it comes to employment/unemployment, however at 8:30 the Futures didn't tick up at all, in fact down, but it seems the only reason they'd have to do so is the AUD/JPY (purple) leading them lower.

I'd say over the entire night and pre-market, the strangest thing was Futures didn't spike on the 8:30 Initial Claims missing consensus pretty badly, that would be what the market would need to get continued QE according to "Some" in the minutes and Bernank himself.

I'll follow up with the rest of the charts in the next post.