When asked why he robbed banks, bank robber Willie Sutton is reported to have replied “Because that’s where the money is.” This week, we’ve seen a spectacular bout of deal making and gift giving in Saudi Arabia that would make Mr. Sutton blush.

Futures are up modestly as ES tags its .786 Fibonacci retracement.

continued for members…

While ES is clearly at a potential stopping/pausing point…

…SPX is lodged between its .786 and .886 Fib, with an RSI that broke out above resistance and isn’t at an obvious turning point.

Though VIX and VX are both hinting at stocks topping out here. I’m inclined to agree, though ES’ SMA200 could prove strong support, as the EURUSD also bounced at its channel midline backtest…

…and USDJPY is having a bad day…

…the net result being that DXY has potentially turned the corner and is headed to our 96.70 target.

As we’ve pointed out before, CL and RB have both run into overhead resistance.

A push above would likely rattle the bond market.  Note that the 10Y is already close to its sell by date.Though the 2s10s might settle a little lower before reaching support.

I am heading in for a little medical procedure that is supposed to take care of my kidney stones. Thanks, everyone, for your patience while I’ve been semi-incapacitated.