Nightly market recap:

- $SPY $SPX recovered to the $6100 cutoff level only to find new responsive buyers, from what you'll see in tomorrow's newsletter, we do expect a further decline in the indexes with potential catalysts coming this week.

- $TLT $TNX bonds rallied past the $88 cutoff again on good volume, though I wouldn't call off the hedges until we're cleared from $88.50 on good continuation buyers. Again, tomorrow you will see why we expect a further bond rally.

- $IWM small caps still not being able to clear the $2300 cutoff, giving us another reason to believe that equities might see lower prices in the coming months, but we will only confirm once $2200 is taken out.

- $USO $CL crude oil could have bottomed here, but as you'll see shortly there are expectations for lower prices in the short-term, still overweight $RIG $PTEN $HP on a 6-9 month time horizon.

- $GLD $GDX gold Jumping to a new all-time high on the futures tonight. The reason why might be coming out of China, as $BABA and other $MCHI $KWEB names rally in the country that has been stockpiling gold for leverage.

- $DXY dollar finding new sellers at the $108 level which was previously support. Looks like the convergence to bonds and lower dollar regimes to boost $XLI $XLE might be taking on water.

More details coming shortly ☕️
#SPY #SPX #TLT #TNX