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.
continued for members…
No breakdown in VIX just yet…
Though, we do have a breakdown in CL and RB.
And, a stall in both USDJPY and EURUSD.
The most important breakout, however, is the 2s10s – almost solely as a consequence of the 10Y’s ascent.
