Futures are slightly higher ahead of the open, propped up by the usual pre-opening VIX plunge and WTI ramp job.
continued for members…
The big picture: It appears we’re still in a waiting mode with the next CPI release the key date to watch.
SPX is still most likely to backtest its SMA100 and 3.618, with the white .886 and SMA200 as secondary support at 3782.
DJI and NKD remain on the sidelines, but generally supportive of algos at this point by virtue of the fact that they refuse to break down.
Remember, EIA oil/gas inventories are delayed until tomorrow due to the holiday.
Currencies have gone essentially nowhere, with USDJPY still officially broken out, but not convincingly.
EURUSD is just biding its time, with another collapse to the red TL likely.
DXY is still hanging on.
Gold and silver are flat.
And, BTC is still hanging on, with a 10/20 cross coming up in a day or two.
Bond yields continue to slump – but barely. 