Opex Friday. Roubini on CNBS this AM. Hope to get some printable quotes or clips. He's lost his edge IMO and I prefer the volatile Faber these days.
Dollar as expected is consolidating under resistance and above support on the ever narrowing 79 to 78.50 range. Something will have to give here soon. I would expect it to fall to 77 here and for upper resistance to hold. Dailys slightly overbought. It can break out and if it should 80.11 would be the first target.
Bringing the VWAP and bands back into play. Minis trading at lower VWAP band 1190. VWAP is 95 and upper band is 1200. They are expanding at this point and for the most part mirror a very narrow 60m BB set up indicating possible volatility to come.
Minis down almost 6 and my favorite chart is this SPX 30m. Reversal off the 200ma combined with some other factors make for a nice chance at some sort of meaningful turn here. The problem with calling for a smaller retrace is that it would end somewhere in the middle of the ramp yesterday near 87 when the trend is for price to retake the whole ramp. Once 96 support goes at the open it could be game on. this will be a tough game to call if it stops. Looking for the blue triangle/wedge.
