Futures are all over the map this morning, but are currently flat as Challenger job cuts reached the highest level for October in 22 years.

continued for members…

It is perhaps significant that ES’ SMA200 will reach the Dec 2024 highs around the end of the year.

SPX’s, on the other hand, will reach its in November, with another opportunity that matches the yellow midline in Feb 2026.

VIX and VX remain on the fence, but still above their purple channel tops.

While DXY is backing off slightly despite not quite reaching its SMA200.

CL is headed lower to help slow/reverse the rise in the 10Y. RB is too, but after another near breakout.

I don’t think it’ll be enough, however, which is one more reason I expect that the 10Y will need an equity selloff in order to get back below 4%.

I would remain cautious, particularly as long as ES remains below the channel midline.

GLTA…