Futures are off nearly 1% this morning, chiefly on worries that the Fed might be more hawkish on Wednesday than investors have assumed.

continued for members…

The bigger picture shows ES backtesting the falling white channel from 2022. Can it maintain the breakout? All eyes are on Wednesday’s FOMC decision. Currencies are unchanged from last week…and the week before.

Oil and gas are slipping again… …which is holding the 10Y in check as the SMA200 approaches.