As the currency turmoil continues, it’s interesting to note that cryptocurrencies are having a worse go of it than EMs.
Meanwhile, futures dipped enough overnight to finally backtest the SMA10. They’ve since rebounded enough to backtest the broken red channel. 
It remains to be seen whether SPX will join in and backtest its SMA10 and whether both can manage a backtest of their January highs.
On the commodity front, RB finally tagged our next downside target — cratering 4.5% from yesterday’s highs.
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