Leading Indicators Pointing to the Same Outcome

So far, all of the indications I'm seeing are along the lines of yesterday's outlook, yesterday I thought we had a little more downside and at least a half a day at minimum of lateral base building, that was before the overnight move.

However, all initial indications, which is exactly what I wanted to wait for in my pre-market post, seem to be pointing to a market move to the upside, it looks like cheap prices are being accumulated and high prices in PMs are being distributed.

I wanted to check Leading Indicators, although it's early, I wanted to see which way they are leaning and thus far, they are providing pretty good confirmation.

 Commodities vs the SPX, with oil and PM's up as they are, this is little wonder, but note how miners have come down since the open.

 Commodities vs the $USD so that's not out of character as the $USD and dollar denominated assets move opposite each other.

The sentiment indicator, HIO held up well yesterday, today it remains in a leading positive position.

FCT, the other sentiment indicator had been heading down since 8/22, the day after the chemical weapon attack was to have taken place, however last night I noted an odd moved in FCT with price, FCT has refused to move lower today and is in the same range as yesterday.

Yields I pointed out yesterday

"Yields are below the SPX and they act as a magnet for equities, that's what we saw today so I assume the two will revert to the mean tomorrow." meaning equities and yields will revert to the mean.

Now you can see how Yields act like a magnet for equities.

 Skittish High Yield Credit didn't break below the range pointed out in last night's post and is starting to diverge a bit higher intraday, not a huge signal, but it does tell us the market is hanging in there for now.

HYG is seeing accumulation intraday as we get that lateral price range I said I'd be looking for both last night and pre-market.

So far, so good for some decent trades and the continuation of a bounce, setting up even better trades.

RIGHT NOW IT REMAINS AN ISSUE OF PATIENCE AND MAKING DECISIONS BASED ON THE FACTS AS BEST AS WE CAN DISCOVER THEM, NOT EMOTION.