Futures are up modestly, backtesting the 20-day moving average for a second day. Time to buckle up.

continued for members…

SPX, in particular, seems to be topping here at the intersection of its yellow channel midline and its SMA20. EURUSD looks very pregnant… …and USDJPY is nearing its next significant overhead resistance.GC, SI and BTC continue to go nowhere – for now. CL and RB are holding up, with another leg down likely in the weeks ahead. …which, if it occurs, would leave TNX susceptible to that long-overdue backtest.Note that DBA continues to slump after its recent breakdown. This is a good sign for food/headline inflation.

Stay tuned…