Friday -- Calm Targets Amid Maximum Confusion

S&P E-mini Futures:
Choppy overnight bounce.

Markets:
Asia was green but Europe is solid red, even with stronger than expected PMIs for both Germany and France.

Mood:
As if the healthcare turbulence isn't enough, Fed’s Evans, Bullard, and Williams are speaking today for maximum confusion.

FX:
GBP relative strength laggard thus far.

Bitcoin back below 1000, down over 4%.

Treasuries:
Prices down with volume across the curve yesterday, though not by much. Tepid recovery thus far.

Energy:
WTI crude choppy bounce while NG continues to consolidate after recent gains.

Metals:
Gold and copper red, platinum flat, while silver and especially palladium shine.

S&P Outlook:
Not only is there still a huge positive divergence on the daily A/D line, but the NYMO (NYSE McClellan Oscillator) has one too.

Source: Stockcharts

S&P got above 2352.89, possibly negating a developing impulse down, but the close was weak.

The 2365 level still has a good looking volume shelf, and Fib confluence remains at the 2378 area.

Below, the 2300 area is a great target if things get rough, along with 78.6% Fib support at 2295.84, and a gap at 2280.85.