Good morning. Futures are a touch lower, with sp -3pts, we're set to open around 1698. Gold and Oil are both lower by around 0.5%. Bears will be gunning for a fourth consecutive daily decline. Bulls need to at least hold the 1680s, or the weekly trends will have broken.
Hmm, certainly, another day where the bears are looking like they are leading the way. I realise some will again be getting overly excited at this, but really, unless the market is trading back in the 1670s, no one can argue the broader trend does not remain still upward.
So..lets see if the bears can get a fourth daily decline.
In particular, see if the daily 10MA can be closed under on the two leaders of Trans/R2K.
*notable mover in early trading: AAPL, +$2 (0.5%) to $493. A daily close in the $500s looks very viable.
Update from Walker, on Gold and Oil