Flat

Overnight the USD/JPY carry trade drifted a bit lower as would be expected considering the looks of the Yen and ES drifted a little lower with it, but I'd call the pre-market FLAT. However, that often changes as soon as the bell rings.

All divergences from last night are still intact and  some are worse, none are better so my outlook for the early part of this week (likely today) is still negative short term.

 USD/JPY sliding softly overnight...

ES following the carry cross and is in line premarket.

The Yen was put on hold after moving up last night by a weaker relative negative divegrence, but since in the range, a positive divegrence has developed suggesting the Yen is getting ready to move higher, the USD/JPY & ES lower. We'll see soon enough.