We’re seeing more backtesting this morning, consolidation after yesterday’s strong surge.

continued for members…

VIX continues to do most of the heavy lifting.Currencies are quiet this morning, with EURUSD’s backtest not quite complete and USDJPY still static.

DXY came close to completing the nearest backtest the other day, but there’s still a possibility it’s aiming for the .618 at 101.797. BTC is having trouble retaking even its SMA10.CL and RB are split, with CL easing after the past week’s gains and RB a little ahead of it.

Today’s plan seems to be about slowing down the rally just a bit.   The analog doesn’t peak until June 3. So, there’s no question stocks need to flesh out the path higher. ES faces an important test of its SMA10 at 4023.85 and its 3.618 at 3997.93. SPX’s 3.618  Fib at 3956.64 is its most important support.

GLTA