Futures ramped up modestly overnight in anticipation of tomorrow’s PPI print.

continued for members…

The rising wedge is still broken down and volatility has still broken out. COMP still seems to suggest we’ll see a rally into YE, but it’s still early.The only chart that gives me any pause about a totally bearish stance is DJI, which broke out of its falling white channel and seems positioned for a backtest of its SMA50,SMA100 and SMA200 around the end of the year.VIX is still elevated, with a 10/20 cross getting very close. Currencies are still working to support stocks, with DXY failing to retake its SMA200 another day.

I have a conference call in a few minutes, will finish posting in an hour or so…