SPX reversed significantly at our 2.618 Fib target, closing below its SMA10 for the first time in a while.
continued for members…
This is a significant Fib level and is based on the 2020 crash.
It’s difficult to know what kind of pullback we’re get. But, as long as the rising white channel remains intact, the meltup will remain intact. For now, this means SPX 5150ish.
It’s about 5155 for ES.
Note that VIX’s bounce ran into resistance at the SMA50 and a TL from the Dec lows.
Currencies basically did more of the same, with EURUSD failing to break out and DXY failing to break down.
Interestingly, SI’s breakout just backtested the former resistance, so it has potential up to the purple .618.
While
While GC reversed sharply at a level just a little closer to its 1.618. 
As expected, CL and Rb continue to break down, enabling the “lower inflation” narrative. 
For now, at least, the 10Y continues to break down but with a backtest underway. 
I’ll plan to post again next Tuesday, but might be able to sneak in some thoughts on Sunday as well.
GLTA.