Futures ramped up past a key Fib level overnight on hopes that the Fed will pause any further rate hikes this week.  Will SPX follow suit?

continued for members…

The equity picture would turn slightly more bullish with a push above the .618s by both SPX (4311.69) and ES (4309.26.) Note, however, that VIX reversed and is rising both on a price and RSI basis. Currencies remain essentially unchanged. While CL and RB are tumbling on a revision by Goldman Sachs of its longer term supply outlook.

As a result, the 2Y and 10Y have both slipped lower with the 2s10s dropping even further below support.