Futures are off modestly in light trading…

… in the lead up to Wednesday’s important economic data dump.  From Briefing.com:

In what is starting out as a quiet week, everything is doing as expected.

continued for members… Stocks are stalling, still trying to assess a run to the SMA200 – which is actually coming to them.  As we’ve discussed in days past, a tag would see SPX/ES reverse short of the channel top. Since we’re dealing with a low volume holiday week, the prospect of a ramp up through the SMA200 can’t be ignored. EURUSD is dropping pretty convincingly, while USDJPY is getting a small bump. The net effect, DXY’s bounce continues as expected. Gold still has a shot at its SMA200, even though it’s struggling just to hold its SMA10 at the moment. While SI looks to be done bouncing. BTC continues its long overdue meltdown toward 11,277.

CL and RB’s breakdowns continue. With the gap between RB and XLE becoming more and more noticeable. XLE looks even more vulnerable when viewed from its own perspective.

Bonds are relatively quiet.

continuing...