July Durable Goods orders came in at 11.2% versus 4.8% expected, driven largely by jumps in autos and defense spending.

YoY, orders are still down 5%.Futures are up slightly on the news, propped up by VIX’s 15% drop from yesterday’s highs and tempered by the question of how the Fed will receive the positive economic news.

continued for members…

Most of the algo drivers are in limbo right now.  USDJPY is up, but hasn’t broken out of its falling channel. EURUSD has pulled back from its breakout but hasn’t broken down.

And, DXY continues to falter, but is mostly moving sideways.Gold and silver are still testing support. The 10Y popped again on the durable goods data, but has given up much of the gains.Note that AMZN is still in limbo, having broken out of a small falling channel but holding above a TL dating back to May. The top of a large white channel has …while AAPL is still in a pullback.more later…

UPDATE:  2:39 PM

That should do it…