Futures are flat after being off modestly overnight. The action over the past few days, however, point to more losses once we’re past OPEX.
continued for members…
Note that SPX closed just above its SMA10 while ES has merely backtested its. Another interesting point is that the .618 retracement of the latest rally is right on top of the SMA200.
Currencies continue to muddle along, offering support for now but not enough to push equities past their IH&S necklines.
CL and RB are enjoying a little bounce this morning, with RB clinging to its SMA200 and the last fan line of support from December.
The 10Y, on the other hand, has slipped back below its.
…which leaves it at a -60bps spread below the 2Y. 
