Futures are off moderately following a big slide in GOOGL shares. 
AAPL and AMZN are also off.
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Tag: EURUSD
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Charts I’m Watching: Oct 25, 2023
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Charts I’m Watching: Oct 24, 2023
Futures are up moderately on positive earnings reports from several key equities.
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Charts I’m Watching: Oct 23, 2023
Futures have dropped through our 200-day moving average target – a significant move that opens the door to a more important backtest.
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Powell Speaks
Futures have bounced back from overnight lows in advance of Jay Powell’s comments at 12pm ET at the Economic Club of NY.
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Mideast Worries Mount
Escalating carnage in the Middle East points to a protracted and increasingly complex set of circumstances for markets, with oil prices and currencies confused as to how to respond. Futures are off moderately this morning, supporting our notion that a 200-DMA tag is still in the cards.
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Charts I’m Watching: Oct 17, 2023
Futures are off moderately, backtesting the recently broken channel after much stronger than expected retail sales.
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Charts I’m Watching: Oct 16, 2023
Futures are up moderately, running into their own channel top following VIX’s recent retreat from resistance,
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Charts I’m Watching: Oct 13, 2023
Futures are up modestly following establishment of a new rising channel.
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PPI Hotter Than Expected
September PPI came in at 0.5% versus 0.3% expectations, briefly driving down futures prices…until VIX was hammered back down. Its 200-day moving average continues to be the critical threshold for algos.
It remains to be seen whether tomorrow’s CPI print can also be ignored.continued for members… (more…)
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The Other Shoe
Futures are testing the upper bounds of the channel from Sep 14. Judging from VIX, currencies and the commodities we watch, ES won’t break out just yet – thus allowing SPX to fully backtest its 200-day moving average.
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