Another overnight meltup into the open after a minor breakdown…with new highs only a tiny VIX decline away.

continued for members…

New SPX highs are once again only a slight VIX breakdown away from happening.  The threshold is at about 15.60.

Although we would need to see some follow-through for it to matter, the algos are getting all the positive strokes they need this morning.

USDJPY still hasn’t broken down and it even testing the only overhead resistance (the red TL.)

While EURUSD’s 10/20 cross is happening right now……and DXY is barely hanging on. Even BTC has pushed through its SMA10 and should take another shot at its .618, with the .786 next up if 51030 is topped. Keep an eye on NKD, which is threatening a breakout only two weeks after a death cross.CL’s on-again off-again breakdown is off again with a push back up through the red TL and an impending 10/20 cross.RB is currently trading above its SMA10 with a SMA100 test coming up. The bond market continues going nowhere, with only a few days left before ZN has to choose between a breakout or breakdown. The relationship between TNX and CL couldn’t be more clear – with CL at overhead resistance and TNX needing to decide between a breakout or breakdown.Bottom line, there is still the potential for this latest push to be the headfake that yields a correction.  But, the signs are not terribly clear at the moment,  and it would need to happen in the next few sessions.

more later…