Futures are off this morning as algos digest the prospect of persistently high inflation and rising interest rates.

The 20-day moving average continues to matter.

continued for members…

Note that the rising green channel has broken down. Can it remain that way? If so, the white channel looks to be the next source of support.
The most promising chart for the bears is VIX, which failed to plunge back below the red TL or its SMA200…at least so far.

Currencies, however, are tapping the brakes on additional equity weakness.

Yields continue to be boosted by strength in oil/gas prices. CL has essentially met our upside target.

While RB is very, very close.

GLTA