USDJPY tagged our next downside target yesterday at the same time that VIX came within .05 of our next upside target.  Given all that, you’d think SPX might have finished in the red rather than 6 points in the green.  And, it would have, had CL not spiked higher on a leak of OPEC’s latest goal-seeked supply-demand “data.”While SPX closed positive for the day, the pattern is looking positively moribund — desperately in need of a growth story that rings true.  If it’s going to backtest anything at all, the algos certainly haven’t gotten the word.

continued for members…

As of right now, ES is showing a bearish tilt.

But, of course, it’s early still.

I still like the idea of a 2500 backtest.  But, we’re rapidly running out of time.So much to backtest here, the 1.618, 2500…

A reminder: EIA’s inventory report won’t come until tomorrow, delayed one day due to the holiday.

Oil’s bounce has been much more dramatic than RB, which is still mostly within the falling white channel.

Gold might have run into some resistance here with the SMAs, but should continue to bounce. I’m about to hop on a plane and won’t be able to post again until after the close.  GLTA.