Wash, rinse, repeat.

continued for members…

It’s a virtual repeat of the lead up to the last five openings – with the only real significant movement being the ramp off the CPI print.

We should get a pullback at some point, but when?  FWIW, USDJPY is testing its SMA50 for the first time since July. Perhaps a hint that we’ll finally get that backtest?

It would help the bears if EURUSD could at least backtest its SMA200……though it seems unlikely until DXY has tested its SMA200. In addition, CL and RB are getting a bounce after breaking down yesterday…

…perhaps to slow the pace of the 10Y descent?