S&P 500 futures are soft this morning, flirting with their first drop through the 10-DMA in three weeks and breaking the dashed red trend line from Aug 16.

continued for members…Note that VIX closed above its SMA100 and is pushing toward its SMA200 this morning. Any move above the SMA200 at 20.06 is at least a suggestion that a correction is possible.The bigger picture shows how few and far between these SMA200 breaches have been – but also how quickly they’ve been extinguished.

USDJPY continues to hold on to its bullish ways, but is only a few days away from authorizing a correction.

EURUSD’s “breakout” is waning. The net result is a bear-friendly bump back above DXY’s yellow TL. GC and SI are flirting with breakdowns. Yes, again. And, BTC is still clinging to its SMA200, with the channel midline and cloud just below offering critical support.It would help the bears immeasurably if CL and RB could break down, even a little… …with the 10Y relying on a sign that inflation is waning.

more later…