The SPX Pre-market is up 6.50 this morning, challenging Short-term resistance at 1940.77. This appears to be a retracement probe that may not go much higher. The SPX futures are up 4.95 as I write.

ZeroHedge reports on the effect of the dismal retail sales number.

VIX futures are down this morning, but not beneath yesterday’s low. This also may be a small retracement that appears to be ending.

TNX opened down this morning, but may be stopped at the hourly Cycle Bottom support at 23.94.

We await the open to see whether the reversal holds and yields resume their ascent.

Regards,

Tony

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