Good morning. US equity futures are a little higher, sp +5pts, we're set to open at 2050. USD is +0.4% in the DXY 94.90s. Metals are weak, Gold -$10. Oil is +2.7% in the $36s, after the latest API report.
Cyclically a day of moderate chop is to be expected.. but leaning on the downside, as (in theory) we should remain broadly headed for the sp'2020/15 zone - with VIX 18s.
Best guess: opening gains, a lot of chop, but closing with marginal net daily declines.
Thursday will offer the bears a chance at 2020/15.... or more viable... Friday.
*yours truly wants to be closed out before the weekend... with a target re-short next Tue/Wed'.
Update from Mr C.
The issue of the 'failed head test' is very important, and I will try to cover it more later this evening.
Gold bug chatter - Hunter with Rickards
I will merely say... make of that, what you will.
Have a good Wednesday