Nightly market recap:

- $SPY $SPX hung around the same $6050-$6100 range today, tight and not really giving us any directional biases to consider here. However, as you'd have seen in our newsletters this week, there are reasons to expect lower prices in the $ES here.

- $TLT $TNX bonds found extremely aggressive responsive buyers here at the $87.50-$87.75 range, very encouraging to our long bonds thesis.

- $IWM small caps found another instance, the fifth this week, of responsive sellers right above the $2300 cutoff. With this, we do expect the broader deleveraging to affect the Russell 2000 down to the $2200 cutoff.

- $USO $CL crude oil looks to be bottoming around the $72.50 cutoff again, second time this week. Plus, as $IVE / $IVW spreads bottom out, it looks like an adjustment for higher oil prices might be in the works.

- $GLD $GDX gold hung around its new high and is now sitting tightly in a $2800-$2775 range, which will be key especially as the inflation themes fade in the economy.

- $DXY dollar Rallied hard after a gap up, though we did get closer to the key $106-$106.50 range that needs to be acquired and broken, this is if Trump is to have his $XLI $XLE expansion and avoid a recession.

More details coming in shortly ☕️
#SPY #SPX #ES #TLT