Nikkei has been leading. It hit its target last night after completing a 50% retrace of the past 30 years.
It now has a daily ORL pattern working.
Spu’s…2579.75 is today’s all session ORL.
Nasd 100…6301.50 is today’s all session ORL.
FTSE is attempting it’s second ORL this week
DAX…has come down to its gap from Oct 30th after putting in an ORL Tuesday with the Euro Stoxx 50.
DAX/BUND is currently @ support.
European interest rate futures are all significantly off their overnight highs.
This is the type of price action one would expect on a mid-week shuffle.
Contra-trend equity check!
If this is indeed a market extreme for a while, it’s happening on the perfect day for the technical models to show cracks.
This is no small thing that is starting to play out. Rates are edging higher with equity weakness.
Let the day unfold to see if the U.S. hits the profit taking button. We’ve seen this movie time and time again over the past year.
Be very patient. Spu’s are 12 points off their overnight highs and one would think its a 50.
Nikkei U.S. traded Futures…Daily & Annual