DXY’s spurt is fizzling at the moment, determined to at least close yesterday’s gap.  The action should soon shift to oil and gas as yesterday’s dip in CL was misplaced.  Crude experienced an outsized draw while RBOB inventories continued to increase.I continue to look for a resolution in the next week or two.

continued for members…CL needn’t do much in terms of inflation.But, RB still has some ground to lose if the Fed wishes to avoid a repeat of 2%+ CPI.

We’ve seen both be instrumental in propping up stocks these past few weeks.  Note yesterday’s dip in CL didn’t even reach the yellow TL or the obvious SMAs.

As we discussed yesterday, USDJPY is making a play.  But, it’s too early to say for sure whether this breakout will have any staying power.We’re getting down to the last few sessions where SPX could make even a 1-2% backtest without breaking any significant channels.

Ditto for ES.

Last, gold continues to suffer from DXY’s strength — probably aiming for that SMA200 tag we’ve discussed.GLTA.