This is a guest post from Precision Capital Management
The Precise Take – Equities continue to consolidate near highs
Leaders Analysis: The EuroYen just barely breached its inverse head and shoulders neckline overnight and has backed off. The US Dollar Index is down into its old trading range. It could go a bit further, but will encounter strong support from 80.52 to 80.88. 30 Year T-Bond yields are in a consolidating wedge. Again, the leaders are equities neutral.
Medium Term Analysis: After a quiet day session yesterday, the ES is quiet again overnight. There are some minor scheduled news items, but it’s difficult to project…
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