Many Battles on Many Fronts

Across various markets, some major battles are being fought in front of both the jobs number tomorrow morning and the long holiday weekend. The Euro, bonds, metals and miners, crude, even natural gas all merit close attention in the coming days and weeks, likely at technical junctures which would set up directional moves in the end of the year. 

In the meantime, the drifting, holiday-esque bounce today in equities is lacking in the breadth department, with biotechs notable laggards as I write this. 

Moreover, the small caps in the Russell 2000 Index are seeing some initial selling at the upper end of their own triangle since two Mondays ago, another battle inside another range. We discussed earlier in the session on the private feed for Members. That $115 level on the IWM, seen below figures to be the nut for bulls to crack to sustain a further rally.