U.S. stock-index futures are little changed Monday morning as investors prepare for the start of third-quarter earnings season. The S&P 500 enters the week holding above its 7800 breakout level, keeping the bullish outlook intact. The next question is whether buyers can sustain that strength as earnings begin and inflation data approach.
The Dollar remains firm near 102.25 resistance, while Gold continues working through its recovery following a confirmed Daily Cycle Low. Gold and Miners have not yet restored their Daily uptrends, and the Dollar has not signaled a Daily-cycle decline. This keeps the developing relationship between these markets in focus, with confirmation still needed.
Oil remains sensitive to geopolitical developments, adding another consideration for inflation expectations and the broader market. Our attention remains on whether stocks can sustain their breakout, Gold and Miners can strengthen their recoveries, and the Dollar begins showing evidence of a Daily-cycle decline.
On the Calendar This Week
Wednesday’s CPI report, Thursday’s PPI and retail sales releases, and the start of major bank earnings could provide important market catalysts. With several markets approaching potential cycle transitions, we’ll be watching whether the resulting price behavior reinforces or challenges our current expectations.
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