Futures have bounced back from overnight lows in advance of Jay Powell’s comments at 12pm ET at the Economic Club of NY.

continued for members… Currencies are supporting stocks this morning, with EURUSD threatening a channel breakout……and USDJPY threatening new highs.

DXY’s rising white channel remains intact. Oil and gas should continue to show some restraint, even though the consensus is clearly for higher prices. A reversal here…
…would end the spike in the 10Y, which has officially reached resistance at the red channel top. Note that a reversal here would be consistent with lower equity prices.GLTA