Futures are up moderately on USD weakness.  The EURUSD has backtested its recently broken red TL and its SMA10, sending the DXY back below a TL it was threatening to break above.  This supports our thesis that the SMA200 is the most important target, but that the tag might wait until it reaches 1.087 or so.

continued for members…The bigger picture shows the SMA200 reaching the yellow channel line next week after reversing at the .618.

The DXY reaction has been dramatic as it approaches its own SMA10…

…with USDJPY contributing to its slide. GC and SI are bouncing in response, with SI nearly tagging our SMA200 target. Stocks’ reaction: We still have a rollover on SPX’s SMA10 and a potential 10/20 cross in the next couple of sessions. And, VIX has backtested the broken red TL from the Mar highs. While AAPL has tumbled to its Jan 4, 2022 highs on disappointing earnings… …AMZN has popped over 10% (putting some of its $10B in share repurchases to work?)

If AAPL can’t hold 182.94, it is devoid of support until it reaches 160.49. Should that happen, the overall market will tank. Of course, AAPL has a long and storied history of timing their share repurchases to effect higher stock prices – buying at key support levels over the years [see: Engineering AAPL’s Breakout.]

Stay tuned.