ES came within 6 points of a key Fibonacci level on Monday, and has more recently been making minor pullbacks to test its rapidly rising 10-day moving average. The more important test will likely come next week when CPI and PPI are released.

continued for members…

The big bolster to stocks over the past several days has been USD weakness.

GC experienced a very sharp rally, tagging the white 1.272 that it just missed last December. If it can push above today’s 2172 high, it would warrant a new upside target, likely of 2466.50. CL and RB are both a little lower this morning, contributing to the 10Y dropping back below its SMA200.

GLTA