Overnight

A strong USD/JPY and a Reverse repo liquidity injection by China sent the Asian markets higher, the Nikkei up 3% and Shanghai +1.8%.

The USD/JPY also drug ES higher in anticipation of the ECB policy statement this morning, Draghi left everything the same and in fact, sounded a lot like the F_O_M_C yesterday in many ways.

ES ran up a bit past yesterday's highs, but after Draghi's press conference is currently sitting right around yesterday's post F_O_M_C highs.

 1 min USD/JPY overnight, it looks a little tired.

5 min USD/JPY, you can see the obvious catalyst for the overnight ES ramp.

This is the Nikkei from overnight on a 3% tear.

And the 1 min ES chart just pre-market that stalled out right after Draghi's press conference failed to inspire much more than what ES attained overnight.