Just a quick analysis on SP futures here. Looking at a daily chart, we have a nice rejection off the 61.8 fib level which comes in at 1354. This is in-line with our analysis on
Dollar Index and
EUR/USD from yesterday and today that is supportive of a bearish view on equities and risk overall, however notice the ACC/DIST indicator (market breadth) is still above its prior resistance which is now support. This is the only thing that's stopping me from outright taking a short position on risk, once that breaks lower, I would be more comfortable with the idea of outright short risk assets, whether it be commodities, currencies or equities.
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