The ES bounced back 10 handles on the day, most of which came on gap. This leaves the larger overhead gap still open and price below the 10ema. Note that the MACD is close to a bearish cross.
NQ futures were higher by 11 but closed below the open which is a slight negative. The 200dma is still near-term support.
Multi sector daily chart:
The Dow/gold ratio is still hugging the long-term trend line.
The BKX was the top gun on the day. Price is still below the key 40 level and the MACD looks tired.
The OSX traded inside yesterday’s range and was stronger than the broad market. No change to the potential reverse H&S pattern.
The XAU tested the 200dma and is now 7 days up.
The SOX posted a relatively weak day underperforming the NDX. Reclamation of the September highs would turn the chart back to short term positive.
The BTK was the last laggard on the day and settled exactly at the midpoint of the range.
Gold was higher by 30 on the day:
Oil is still boxed up in the recent range and trapped below the 200dma
