Futures are essentially flat in advance of today’s FOMC minutes.

continued for members…

Interesting that there is little follow through – at least so far – from the SMA200 bounce.

Note that NVDA will report after the close.  It had a very bearish chart going for a while, with two H&S patterns targeting much lower prices. The April 7 lows were never taken out, and the rally since then has been pretty impressive.

It could be argued that the stock is overbought, but it now has support not only at its SMA200 at 126 and the white channel top at 129. Note that it has potential targets (and overhead resistance) at the .786 at 138.9 or the .886 at 145.55.Currencies and oil/gas are fairly quiet this morning as traders wait for clues from the FOMC minutes. The 2s10s is still hovering around 50 bps.