Futures came within 5 points of our upside Fibonacci target before backing off last night. This satisfies our expectation that the last leg up in this phase of the rally would occur overnight due to the pattern discrepancies between SPX and ES.
Today is OPEX. Close enough for the party to get started?
continued for members…
The equity picture is looking quite bearish…
COMP is probably no more than a day or two away from a very significant top.
…given the fact that CL and RB are declining sharply…
…and USDJPY has given up (at least for now) it’s higher high aspirations…
…and the dollar is threatening higher.
Gold and silver are backing off.
And, BTC reached our next downside target. 
Last, even the bond market seems to agree with the bears.
Keep an eye on VIX for the best guidance on timing.