Here is your morning look;
Welcome to the Mid-Week Shuffle.
A flag formation is forming on the Spu medium term P&F.
It will take new highs from yesterday to change the long-term.
Dow Futures are caught between 24,500 daily cloud support and 24,900 near resistance.
There is something afoot in Italy with the BTP up 100 points into its 50 DMA.
BONO’s …Spanish debt is in rally mode as well. 146.10 is oscillator resistance and the closing upside pivot
Crude has broken support going into today’s inventory numbers @ 9:30 CDT. 60.96 is its 50 DMA.
Let the U.S. session set up.
Individual instruments should be judged and traded off their own technicals.
Rule #1…with a hard rally into today’s close it does not pay to buy the close or press longs.