All in the video. Remember the minutes from FOMC will be released at 2pm today, so expect a whipsaw either way.
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Oil bears still in control
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SPX likely setting up for a bounce into EOD after the minutes
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OK there's the move up. If we sell off from here it maybe the start of a 5 wave sequence. Like I said we could go up to 4360 as well. Best to wait and see what happens tomorrow. Follow through or run for exits?
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No sell off overnight, very choppy - likely sideways motion. Market looks like it's making some sort of pennant. A break above 4295 would be bullish and probably means we get up to that 4360 level for another short squeeze.
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Bonds tried to breakout this morning only to get stuffed down, at least I know the trendline is correct.
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home sales numbers at 10am, my guess is it misses badly.
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no decision yet. Market participants are very aware of the upper trendline and probably, lower as well.
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Pennant breakout, but not much volume. Watch for false breakout. If futures can keep pushing it 4350 area is next.
