Futures have bounced back from yesterday’s disappointing outing, but are still off recent highs with some very consequential economic data coming next week.

continued for members…

I’m still on the road, so must apologize for the late post this morning as I adapt my laptop to Schwab’s new ThinkorSwim configuration. Currencies are still pretty quiet, with USDJPY still inching higher and EURUSD on a bit of a pause with its SMA200 still the most likely immediate target.

The bump in CL and RB won’t help the bond market and thus, won’t help the equity markets.  If consumer sentiment comes in below estimates, we could see a continuation of yesterday’ selloff.

more later...