A Big Move is Coming

The chart shows that it's under the bearish trendlines, but has held above some key supports. When the ADX turns up, if the red DI is still up then we'll likely see a fairly large selloff, but it's still completely up in the air. Long-term fundamentals are the worst we've ever seen, but it's possible that the economic data is manipulated for the release this week like it was in May. The volume is still coming in large batches of selling and now we're starting to see money flowing back into bonds, so it's possible that the MMs are front-running an EoQ bearish movement, which is what I brought up at the start of last week. There's been absolutely nothing that has made me want to even consider going long right now, but logic left this market several months ago.