Another OPEX week overnight ramp…same cast of characters, same outcome.

continued for members…

As discussed yesterday, DJI has seen a bullish 10/20 cross. But, note that the previous such crosses were mostly head fakes, with prices peaking within a couple of days of the cross.  I believe that’s what we have here. Currencies are supporting the bounce, particularly EURUSD which is suggesting another SMA50 backtest. CL and RB are merely hinting at a roll over, but CL dropped below its SMA20 and RB is testing its following more SPR sales announced by the White House.

This is putting a little pressure on the 10Y.

Stay tuned…