U.S. equity futures are pointing higher this morning, led by the Nasdaq, following Thursday’s pullback. Oil is retreating while Gold is advancing and the Dollar is easing. The developing reversals in the Dow and Russell remain worth watching as the S&P and Nasdaq attempt to stabilize near their recent highs.
The important question is whether the lagging indices can establish their Daily Cycle Lows while the market leaders preserve their bullish structures. Meanwhile, Gold’s recovery and the Dollar’s hesitation near its declining 200-week moving average raise the possibility of a developing cross-market reversal.
A sustained equity rebound would support improving Daily-cycle alignment, but the lagging indices still need confirmation. Gold must also establish its own DCL, regardless of Dollar weakness. Oil’s pullback places renewed attention on its developing Day 43 DCL setup, where a qualifying close above the 10-day moving average remains the key signal.
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