PCE came in hotter than expected: 4.9% versus 4.7% expected/previous. Futures, which were up nicely overnight, are back in the red and testing the June lows again on the last day of Q3

continued for members…The equity picture is unchanged, with Oct 4 and Oct 11 popping up in multiple places on our charts as potential interim lows.

A somewhat cleaner version of the very important VIX chart shows the white IH&S neckline at 37.60ish. VIX is back below the yellow TL from January.Currencies are being generally supportive with USDJPY drifting higher and EURUSD extending its backtest. GC, SI and BTC are also backtesting higher/sideways. CL and RB have failed to top their SMA10s and have likely started their next leg to lower prices – to be completed in the next week or so.

This offers a slight breather for both the 2Y and 10Y which would otherwise be taking cues from PCE.