OK, so far, nothing too strange, from the The Week Ahead
"This is a bit of a tough one for a couple of reasons. First as for GLD, I see it moving lower, continuing the pullback it has been giving strong signals for. As for crude, it looks to have a solid bounce in front of it.
As for the averages, if we can say, "There's relative strength" in an environment that's largely very weak, then it would be in the SPX this week rather than the Russell 2000, but there appears to be significant weakness."
If you have seen these assets, you know crude is up , oil is down, and it looks like the S&P is outperforming the R2K in premarket, we ALL KNOW THAT'S ABOUT TO CHANGE ON THE OPEN TO SOME DEGREE.
I suspected weakness on the cash open in the averages, it doesn't look that way in pre-market, but that would be a strong concept of 3C picking up where it left off, being broken, which is possible, just not usual.
The charts...
I do expect a bit more bounce or attempt, at least until leading indicators give out, but the market has seen aggressive selling in to all attempt to bounce off a perfectly decent base, I suspect leading indicators do give out this week.
Treasuries are still a bit of a question mark which will be dealt with this week. I think they are the key to understanding F_E_D rate hikes, and not just price action in them.
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