S&P E-mini Futures:
Choppy trade overnight, yet no break in trend.
Solid gains in Asia last night met with mixed trade in Europe. Plus, it's the day before the NFP numbers, and things could get anticipatory on both sides.
This is the sort of headline I look for to telegraph the social mood of what could be a final run to new highs:
And this one is just laden with accidental subtext.
The Chiron is one hell of a car, perhaps the last truly great automobile. But the century-long first act of the automotive story is ending. We couldn’t ask for a more powerful closing scene.
A "powerful closing scene" is exactly what I'm looking for from here on, both with the ascent and descent. Both should be breathtaking.
The thought of the last great car is kind of sad, though.
Slight Risk On today.
Short end lower, long end slightly higher. Tricky mix.
WTI crude is looking more and more precarious and needs a breakout higher ASAP or risk fresh lows. NG looks like more subdivisions are needed lower over the coming weeks and months.
Silver remains the problem child when it comes to metals.
Remember this chart?
The S&P blew right through, and closed above, the 1975.42-1977.86 Fib confluence zone. Maybe it had this channel in mind. I'm thinking it has even higher in mind.
2,000 could be the next stop. Below, the 1950-1965 area could be tested but should act as support.
Only below 1891 at this point would appear to derail things.