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.

continued for members…

Note that it has still not broken its own trend line. But, like ES, the SMA10 is still below the SMA20.

The “have nots” include VIX, which is back above its SMA200… …CL, which is slumping lower after its latest SMA200 backtest… …ZN, which is bouncing nicely after backtesting the white channel top yesterday… …USDJPY, which is sliding a bunch after a near tag of its .886… …and the 2s10s, which is still bearishly inclined… …although the 2Y is back above 1.40.I have an appointment this morning at 10:30 which should take me about an hour. I’ll be back asap.

GLTA.