Haves and Have Nots

The ES trend line we were expecting to break down yesterday did, in fact, break down. But, it has been a very meek, carefully controlled breakdown so far.  Most factors are still bearishly aligned except for DXY, which has broken out of a little falling channel on continued weakness in the euro.

As for the “haves,” it pretty much boils down to SPX, which made a new high on the open, backtesting the channel which recently broke down. Its breakdown should show up on the opening bell.

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