The wait is almost over.  Two weeks ago, I came across an analog that pointed to tomorrow, Jul 30 as a pivotal point in equities.  Analogs don’t always play out of course.  But, this one is important enough that it will tell us much about what to expect from equities, bonds, currencies and commodities — whichever way it breaks.

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The equity picture as suggested by the analog — with the caveat that we’re technically close enough to reverse without reaching 3047.

A reminder: if SPX does pop through 3047, ES’ 2.618 is up at 3076.93.VIX is about to experience a 10/20 cross, a nice buy signal for vol.  It still hasn’t dropped through the previous low or even the .886.Oil and gas are still positioned for a drop.  But, CL is pushing up past its SMA10 this morning in order to prop things up just a little longer. Currencies are similarly positioned — with DXY’s threatened breakout not supported by the EURUSD or USDJPY chart.

And, last, the bond market is positioned for a shock. A quick glance at a few of the stocks we’re watching:

More later…