Thinking of the late great Chick Corea this morning as I survey the sky-high equities market…  Futures have regained about half their overnight losses, spurred by a timely dip in VIX and pop in 10Y yields (testing Monday’s highs.)

continued for members…The triangle will obviously resolve one way or the other – the problem with triangles and their lower highs and higher lows.

Given that this is a 3-day weekend and stocks have been supported at every turn lately, it’s hard to have conviction about holding short over the weekend – even with everything in nosebleed territory.Yes, this is getting old… …and, yes, it could go on like this for much longer. The bump in yields… …has given DXY a boost……with help coming from both the yen and the euro.

Gold and silver are still treading water, with SI on the right side of the tracks and GC languishing on the wrong side. Cl and RB are still clinging to their recent highs, with RB’s downturn postponed another day. BTC has pushed back above its blue 2.618 – for the time being – though its failure to soar to new highs doesn’t make for a very convincing argument that it will avoid the usual Fib backtest (40,180.) UPDATE:  10:20 AM

University of Michigan Consumer Sentiment just came out and it’s a stinker. Current and expected conditions both sunk and inflation expectations are on the rise.

Naturally, ES popped up to test the triangle top.

I’m heading out shortly to take DD2 back to college. I hope to do some posting on Monday, but the schedule is packed pretty tightly.

I wish everyone a safe and enjoyable weekend.