Futures are off moderately this morning on low holiday volume.

continued for members…

My apologies for the late post this morning. Like the market, I’m a little under the weather this morning. Surprisingly, VIX passed on the opportunity to make new lows and boost equity prices.We’re finally getting that DXY breakout we’ve been wondering about, courtesy of both the yen and the euro.

The culprit is oil, which has broken above its recent highs.  This is bad news for the inflation fight and interest rates. A report out from the Saudi Press Agency says that the Saudis will extend its 1 million/day production cut to the end of the year in an effort to offset weaker demand from the US and China.RB’s SMA200 has held.