Oh So Close!

After a non-event GDP revision, S&P 500 futures are currently up slightly and backtesting the 10-DMA that broke down yesterday.

All eyes remain on the G-20 summit.  Will Trump & Co. get the trade talks back on track, or at least tweet that they have?

Meanwhile, I’ll be watching to see whether BA “un-suspends” its share repurchase plan now that the latest debacle has hit the press. Algos will be watching, too. Markets are oh so close to getting through the quarter with the nice gain intact.  Can they hold on for two more sessions?

continued for membersAt this point, we’re still rearranging the deck chairs.  Current thoughts on downside timing…

In currencies, USDJPY has probably finished its ramping… …while EURUSD is still backtesting its SMA200.  DXY is currently in limbo — with at least a modest decline still ahead.

Oil and gas are treading water, but still likely to plummet. And, bonds are still on hold for the moment.

UPDATE:  10:20 AM

The apparent path, for now at least…