Will the addition of another “thinking about” keep stocks aloft until the next FOMC meeting?  Futures aren’t looking so hot, perhaps because WTI has now joined RBOB in breaking trend, 10Y yields have gapped lower, and VIX broke out of its falling wedge. The algos are not happy.

continued for members…The algos haven’t fully jumped on board yet, but all signs are for the H&S Pattern to complete.

The 10Y finally moved. While difficult to see on the daily charts… …it’s quite noticeable on the 60-min.And, the 2s10s is under pressure…

…with both the 10Y and the 2Y getting in on the action.

As mentioned above, WTI has joined RBOB in breaking down.  It’s not a lot, but the algos can’t help but notice. On the currency front, we’re seeing a cushioning backtest by USDJPY, EURUSD holding its own, and DXY slipping lower. GC is off slightly.more later…

UPDATE:  10:00 AM

ES just tagged its SMA20, with SPX coming close to its (also horizontal support.) We should see a little support come in here, particularly if VIX has trouble pushing above the yellow TL. UPDATE:  2:40 PM

EURUSD has reached its .618 Fib target – also the top of the purple channel nested inside the falling red channel. It could push a little higher without breaking out of the red channel, say 1.19. But, this is a good candidate for a reversal, even though DXY probably has more downside – which would have to be motivated by a drop in USDJPY. Should be interesting. UPDATE:  3:30 PM

ES and SPX have retreated back above their SMA10s, while VIX is flirting with a drop below its.  Unless we get a brisk sell off in the next 30 minutes, bears will be stuck with an overnight bet that VIX won’t be hammered to new lows overnight. 

USDJPY is still looking vulnerable. CL and RB have rebounded nicely, but it’s hard to say whether the worst is over… …especially with DJI having bounced off its SMA200.