Volume increase as the indexes traded outside down the previous days range. They had 6 closes above the 5 SMA – not quite enough to start an extended run. A trade and possible close below the 5 SMA is now likely. The Russell has formed a first cross sell on the daily chart ( much lower high) while the Nazdaq made new momentum hgihs on the 2-period ROC 2 days ago. Will a more extended trading range now form?
US, GC SI JY – ROC poised to flip up. 5 SMA is the level to rotate around.
3-bar triangle in DX, EC, CD, BP, CL, S
CL getting its close back below the 5 SMA in the overnight action!
8:30 CPI, Core CPI